Market Overview

UPDATE: Citigroup Initiates AFLAC at Buy on Earnings Strength

Related AFL
Aflac at an Inflection Point - Analyst Blog
Morgan Stanley Expects Slow Acceleration from Aflac

Citigroup initiated coverage on AFLAC (NYSE: AFL) with a Buy rating and a $62.00 price target.

Citigroup said, "We consider AFL to be one of the premier franchises in the life insurance sector given its superior ROE and consistent earnings. In our view, results have reached an inflection point, and we forecast EPS growth to steadily accelerate over the next few years, driving further expansion in the P/E multiple. … The key factors driving AFL's high ROE are its low cost structure, industry leading persistency, focus on less capital intensive products, and active capital management."

AFLAC closed at $52.44 on Wednesday.

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

Most Popular

Related Articles (AFL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free