J.P. Morgan Remains Neutral On Assurant (AIZ)

J.P. Morgan reiterated its Neutral rating on Assurant

in a research report published today. Assurant's Q1 earnings per share managed to beat market expectations, and J.P. Morgan remains cautious on its long-term prospects. However. J.P. Morgan stressed that, “While AIZ's earnings power might be higher than our initial expectations, we remain cautious on the company's growth prospects. Share buybacks should lift overall results, but we expect operating income in the solutions, health, and employee benefits businesses to decline.” J.P. Morgan set its price target on Assurant's shares to $44. On Wednesday, Assurant finished at $38.47, just one cent above Tuesday's closing value.