Loading...
Loading...
Bank of America downgraded Unum Group
UNM from Buy to Neutral and raised the price objective from $27.00 to $29.00.
Bank of America analyst Seth Weiss commented, "We are downgrading Unum from Buy to Neutral after the 31% price move on the year-to-date. Unum is the best performing life insurer this year, outperforming the 13% return of S&P life stocks, and the 9% return from the market as a whole. Unum's P/B multiple has improved from under 0.8x to over 1.0x, representing a greater than 30% expansion in the multiple, versus a 15% expansion for the average life name. Unum's business mix gives it less sensitivity to equity markets and low rates, and we believe it deserves to trade at a premium to traditional life providers with a similar ROE. However, we believe this is now largely recognized in the market."
Unum Group closed at $27.36 on Monday.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in