UBS assumed coverage of Aflac (AFL) with a Neutral rating and price target of $114, up from $109. The firm is “cautiously positive” on the life insurance sector, citing “key positives” such as higher-for-longer interest rate environment, which it believes is favorable fundamentally and sentiment-wise, and balance sheet strength. Recent accounting changes have improved investor comfort around macro-related balance sheet assumptions in prior cycles, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AFL:
- Aflac price target raised to $124 from $118 at Piper Sandler
- Globe Life price target raised to $152 from $140 at Piper Sandler
- Cautious Hold Rating on AFLAC Amid Sector Challenges and Mixed Business Trends
- Aflac price target raised to $96 from $94 at JPMorgan
- Aflac price target raised to $105 from $98 at Morgan Stanley