Market Overview

UPDATE: Deutsche Bank Raises PT to $47 on Allstate on Book Value, EPS Outlook

Share:
Related ALL
Earnings Scheduled For May 4, 2016
Carl Icahn To Get AIG's CEO Fired?
Stock Indexes Sag South; Caterpillar Fails To Retake 50-Day Line (Investor's Business Daily)

Deutsche Bank reiterated its Buy rating on Allstate (NYSE: ALL) and raised its price target from $46 to $47.

Deutsche Bank noted, "We are increasing our target price to $47 based on rolling book value forward one quarter and a modestly higher EPS outlook. However, lower EPS volatility could cause the market to award Allstate stock with valuation multiple expansion, and we believe that there is meaningful risk that our target price is too conservative. Core fundamentals at Allstate continue to improve (increasing ROE, decreasing volatility and expectations of auto PIF growth in 2013). The biggest risk facing Allstate and our Buy recommendation is a significant catastrophe event like a Hurricane Sandy."

Allstate closed at $40.42 on Tuesday.

Latest Ratings for ALL

DateFirmActionFromTo
Apr 2016CitigroupMaintainsBuy
Feb 2016CitigroupUpgradesNeutralBuy
Feb 2016NomuraMaintainsNeutral

View More Analyst Ratings for ALL
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (ALL)

View Comments and Join the Discussion!