Aflac price target lowered to $118 from $122 at Piper Sandler

Piper Sandler lowered the firm’s price target on Aflac (AFL) to $118 from $122 and keeps an Overweight rating on the shares. The firm notes the U.S. continues to see higher levels of earnings emergence, while the franchise generally continues to have re-measurement gains. To the extent this persists short-term, there could be a favorable benefit seen in Q3 during annual actuarial assumption review, Piper adds.