Reported about 15 hours ago
Evercore ISI has downgraded The Allstate Corporation (NYSE:ALL) from Outperform to In Line due to limited EPS growth potential and a more balanced risk-reward profile. With a price target of $233, analysts argue that Allstate is overearning in vehicle insurance, citing future margin normalization and reduced opportunities for estimate revisions. Despite being considered a safe investment, the firm warns against further rerating amid weaker earnings growth prospects.
Source: YAHOO