American Financial Group price target raised to $145 from $139 at Citi

Citi raised the firm’s price target on American Financial Group to $145 from $139 and keeps a Buy rating on the shares after meeting with management. The analyst came away “incrementally positive” on American Financial with greater conviction about its ability to beat its 2024 budgeted earnings per share of $11.00, given pricing momentum and good growth opportunities. While the company is overweight casualty lines where industry concerns around loss inflation are in focus, its reserving strength and presence in less competitive niches “give us comfort,” says Citi.