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UPDATE: Citigroup Initiates AFLAC at Buy on Earnings Strength

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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.

Latest Ratings for AFL

DateFirmActionFromTo
May 2015Keefe Bruyette & WoodsMaintainsMarket Perform
May 2015CitigroupMaintainsNeutral
May 2015Goldman SachsInitiates Coverage onNeutral

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Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

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