JPMorgan raised the firm’s price target on Aflac (AFL) to $96 from $94 and keeps a Neutral rating on the shares. The firm shifted its view on life insurance stocks from Positive to Neutral, saying risk/rewards “have become less compelling given an incrementally downbeat outlook for business fundamentals.” It forecasts life insurers will report “weak” earnings and mixed business trends in Q1. JPMorgan reduced estimates as part of a Q1 earnings preview.
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