Morgan Stanley analyst Bob Huang has maintained their bullish stance on ALL stock, giving a Buy rating yesterday.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Bob Huang’s rating is based on several factors that highlight Allstate’s potential for growth and stability. The company has demonstrated a positive trend in its auto policies in force (PIF), adding 75,000 new policies in a month, which signifies a promising growth trajectory. This increase is seen as a step in the right direction for Allstate’s overall growth profile.
Additionally, Bob Huang notes the importance of the competitive environment and the durability of Allstate’s combined ratio. As competition in the auto insurance market intensifies, Allstate’s focus on profitable growth and maintaining a stable combined ratio will be crucial. Furthermore, the company’s pre-tax catastrophe losses were largely in line with expectations, suggesting a level of resilience in managing risk, which supports the Buy rating.
In another report released yesterday, KBW also maintained a Buy rating on the stock with a $235.00 price target.
ALL’s price has also changed slightly for the past six months – from $196.880 to $205.270, which is a 4.26% increase.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue