Allstate price target raised to $185 from $172 at JPMorgan

JPMorgan raised the firm’s price target on Allstate to $185 from $172 and keeps an Overweight rating on the shares. The firm’s outlook for business trends in the property and casualty sector is upbeat, but it feels bullish sentiment and relatively full valuation levels will limit upside in the stocks heading into the Q1 reports. Disciplined pricing and the group’s defensive risk profile are key positives, but expectations for margins and growth “seem optimistic and valuations are not attractive,” the analyst tells investors in a research note.