American Financial price target lowered to $150 from $162 at Piper Sandler

Piper Sandler analyst Paul Newsome lowered the firm’s price target on American Financial Group to $150 from $162 and keeps an Overweight rating on the shares. The Q2 reports are going to be a mixed quarter for many insurers, the analyst tells investors in a research note. The sector needs to get through what may be a number of earnings pre-announcements before the stocks can recover and reflect the “fairly good intermediate-term prospects for the companies,” says the firm.