As previously reported, Evercore ISI analyst David Motemaden downgraded Allstate (ALL) to In Line from Outperform with a price target of $233, up from $230, following what the firm calls a “solid run” in the year-to-date. With the Street and the firm now assuming Allstate is over earning in auto in 2026-27, the firm also sees less scope for positive estimate revisions compared to at the beginning of the year, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALL:
- Allstate downgraded to In Line from Outperform at Evercore ISI
- Corebridge announces availability of life insurance products through Allstate
- Roth Capital sees higher earnings for Allstate on lower catastrophe losses
- Allstate’s Strong Performance and Strategic Growth Earns Buy Rating from Analyst Bob Huang
- Allstate announces August catastrophe losses $213M