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Allstate price target raised to $202 from $197 at Wells Fargo

Wells Fargo raised the firm’s price target on Allstate (ALL) to $202 from $197 and keeps an Equal Weight rating on the shares. The firm notes Allstate shares responded better than it would have expected to earnings, as the market liked the strong margins. From here, Wells thinks upside will be driven off of their ability to show better PIF growth, which is still being hampered by declines in NY/NJ.

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