Aflac price target raised to $118 from $113 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Aflac (AFL) to $118 from $113 and keeps an Equal Weight rating on the shares. The firm updated models in the insurance space post the Q3 reports. Life insurance earnings reports were better than what share price reactions would suggest, the analyst tells investors in a research note. For property and casualty, Morgan Stanley sees a softening cycle heading into 2026.