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UPDATE: Citigroup Initiates AFLAC at Buy on Earnings Strength

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Earnings Scheduled For April 27, 2017
Benzinga's Top Upgrades, Downgrades For April 18, 2017

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
Apr 2017Raymond JamesUpgradesMarket PerformOutperform
Apr 2017Bank of AmericaUpgradesUnderperformNeutral
Feb 2017JP MorganUpgradesNeutralOverweight

View More Analyst Ratings for AFL
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

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