Barclays analyst Tracy Benguigui lowered the firm’s price target on Allstate to $122 from $125 and keeps an Equal Weight rating on the shares. The analyst thinks specialty insurers will outperform standard insurers in Q1 given opportunities afforded from market dislocation. The firm is cautious on "any contrarian" who releases casualty prior year claims development prematurely and sees mixed signals behind the auto path to profitability.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ALL:
- Allstate price target raised to $150 from $144 at Piper Sandler
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations
- Allstate upgraded to Outperform from Market Perform at William Blair
- Allstate price target lowered to $120 from $130 at BMO Capital
- Allstate price target lowered to $132 from $138 at Evercore ISI