Allstate price target lowered to $144 from $151 at Evercore ISI

Evercore ISI analyst David Motemaden lowered the firm’s price target on Allstate to $144 from $151 and keeps an In Line rating on the shares. Allstate preannounced 4Q22 results, including an adjusted net loss of $335M-385M, which is another setback, Motemaden tells investors in a research note. The analyst is still worried that there could be additional BI reserve increases in the future, he adds.