UPDATE: Raymond James Downgrades Aflac on Valuation
In a report published Wednesday, Raymond James analyst Steven D. Schwartz downgraded the rating on Aflac (NYSE: AFL) from Outperform to Market Perform, and removed the $68.50 price target.
In the report, Raymond James noted, “We are lowering our rating on shares of Aflac to Market Perform from Outperform on valuation. Despite limited upside to our price target, we had maintained our prior rating given potential upside from the new Japan Post agreement. However, further appreciation in AFL shares since we last revisited our price target and rating has made a more positive rating difficult to justify.”
Aflac closed on Tuesday at $67.00.
Latest Ratings for AFL
|Aug 2015||Keefe Bruyette & Woods||Upgrades||Market Perform||Outperform|
|Jul 2015||Deutsche Bank||Maintains||Hold|
|May 2015||Keefe Bruyette & Woods||Maintains||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.