Kemper upgraded to Outperform from Neutral at Credit Suisse

Credit Suisse analyst Andrew Kligerman upgraded Kemper to Outperform from Neutral with a price target of $78, up from $56, which implies 38% upside. The analyst expects $6.20 in earnings per share by 2025, boosted by rising premiums. Between 2016 and early 2020, when personal auto saw ongoing improvement, Kemper traded in a range of 11- to 26-times earnings, with mean and median multiples of 17-times, the analyst tells investors in a research note. Given Kemper’s "favorable prospects," the firm is "cautiously" applying a multiple of 13.5-times to its 2025 estimate and discount back a year to get to the target price.