Market Overview

UPDATE: Citigroup Initiates AFLAC at Buy on Earnings Strength

Related AFL
Benzinga's Top Downgrades
Bank of America Downgrades Aflac To Neutral

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
Dec 2014Keefe Bruyette & WoodsMaintainsMarket Perform
Nov 2014Bank of AmericaDowngradesBuyNeutral
Oct 2014Sterne AgeeMaintains

View More Analyst Ratings for AFL
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (AFL)

Around the Web, We're Loving...

Get Benzinga's Newsletters