Unum Group upgraded to Outperform from Market Perform at Evercore ISI

Evercore ISI upgraded Unum Group (UNM) to Outperform from Market Perform with a price target of $84, up from $67. The firm expects the shares to benefit from the broader sector re-rating, continued favorable trends persisting in group benefits, and potential long-term care risk transfer by the end of 2025. The analyst says Unum’s pricing will remain rational and is not softening, and the improvement in disability recovery rates should remain sticky and persist into 2025 and potentially beyond.