Allstate price target raised to $188 from $172 at Barclays

Barclays raised the firm’s price target on Allstate (ALL) to $188 from $172 and keeps an Underweight rating on the shares. Heading into Q2 earnings, the firm is more cautious on property and casualty carriers, saying underwriting margins face pressure from softening rates and unfavorable mix shift. Barclays is more constructive on reinsurers due to “idiosyncratic tailwinds” and capital return potential in the second half of the year. The analyst names Everest Group (EG) and Hartford Insurance (HIG) as top ideas.