Citi initiated coverage of Allstate (ALL) with a Neutral rating and $211 price target The firm rolled out coverage in North America insurance, expecting pricing and reinvestment tailwinds to ease but for earnings to remain resilient. Citi sees more opportunities for upside in the shares of underwriters relative to brokers. Its top ideas include Arch Capital (ACGL), Aspen Insurance (AHL), Brown & Brown (BRO), Chubb (CB), Ryan Specialty (RYAN) and RenaissanceRe (RNR).
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALL:
- Cantor rolls out P&C insurance coverage, sees ‘market in transition’
- Allstate initiated with a Neutral at Cantor Fitzgerald
- Allstate price target raised to $246 from $237 at Keefe Bruyette
- Allstate price target raised to $202 from $197 at Wells Fargo
- Allstate price target raised to $260 from $250 at Raymond James