Assurant price target raised to $205 from $195 at Piper Sandler

Piper Sandler raised the firm’s price target on Assurant to $205 from $195 and keeps an Overweight rating on the shares. In an earnings preview ahead of the company’s Q1 report, the firm noted that while it is below consensus for Q1, it is above consensus for both FY24 and FY25, citing timing more than anything else as the reason. Piper said it increased its price target partly as the result of “a higher EPS estimate” and partly to reflect increasing the firm’s “FY25 multiple to 12.0x from 11.6x.”