Allstate price target raised to $180 from $176 at Morgan Stanley

Morgan Stanley analyst Bob Huang raised the firm’s price target on Allstate to $180 from $176 and keeps an Overweight rating on the shares. The “strong beat” on Auto and Homeowners gives the firm confidence that the company is moving in the right direction and should be well positioned to take advantage of better pricing and the lower loss environment in 2024, says the firm, which sees “a solid path to sustained profitability.”