BofA analyst Joshua Shanker raised the firm’s price target on Allstate to $145 from $131 and keeps a Buy rating on the shares after rolling the firm’s P/E multiple valuation to 2025. Some investors have argued that Allstate is less strongly capitalized compared with the past, notes the firm, which admits that "this seems true enough," but does not believe the tighter capital is a headwind.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ALL:
- Allstate price target lowered to $122 from $125 at Barclays
- 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