Allstate price target raised to $214 from $205 at BMO Capital

BMO Capital raised the firm’s price target on Allstate to $214 from $205 and keeps an Outperform rating on the shares. Allstate disclosed that implemented Auto rates were about +2.7% in the quarter or nearly +11% annualized, which could hinder near-term organic growth, but allow Allstate to continue to show meaningful core margin improvement, the analyst tells investors in a research note.