Allstate price target raised to $172 from $164 at JPMorgan

JPMorgan raised the firm’s price target on Allstate to $172 from $164 and keeps an Overweight rating on the shares. The company’s results were strong and validate a bullish stance on the stock, the analyst tells investors in a research note. The firm says margins were boosted by mild weather and are unsustainable at the Q4 level, but affirm the view that Allstate’s repricing efforts are taking hold and should help revive margins.