Unum Group upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette analyst Ryan Krueger upgraded Unum Group to Outperform from Market Perform with a price target of $52, up from $49. The analyst cites the company’s improving fundamentals coupled with the 19%share selloff over the past week for the upgrade. Unum has a "strong and valuable" group benefits franchise with mid-single-digit premium growth, mid-to-high teens return on equity, and 80%-plus free cash flow conversion, the analyst tells investors in a research note. The firm sees a "clear line of sight" to $1B of annual free cash flow in 2024 and beyond.