Jefferies raised the firm’s price target on Allstate (ALL) to $267 from $231 and keeps a Buy rating on the shares. The firm views the policy-in-force miss in Auto as timing driven, reflecting renewal pressure from rate, which should wane. The firm expects strong new business, leading to market share gains in Auto and Home, the analyst tells investors.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALL:
- Allstate price target raised to $228, named a ‘Top Pick’ at Morgan Stanley
- Allstate price target raised to $186 from $175 at Wells Fargo
- Allstate Corp Shows Strong Q3 Performance Amid Challenges
- Allstate price target raised to $187 from $175 at Barclays
- Allstate reports Q3 adjusted EPS $3.91, consensus $2.43