BMO Capital analyst Michael Zaremski raised the firm’s price target on Allstate (ALL) to $235 from $230 and keeps an Outperform rating on the shares. The firm is raising its FY25 EPS view to $20.53 from $17.44 and its FY26 view to $22.33 from $21.83, reflecting the Q2 beat and lower expense ratio, partially offset by weaker near-term buybacks and a slightly higher underlying loss ratio due to tariffs, the analyst tells investors in a research note. BMO adds however that its monthly policies-in-force roll-forward math points to downside risk during Q3, unless retention improves quickly.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALL:
- Allstate’s Strong Growth Prospects and Strategic Moves Justify Buy Rating
- Trian boosts stakes in Ferguson, Wendy’s
- Trian takes boosts stakes in Ferguson, Wendy’s
- C3 AI downgraded, Capri upgraded: Wall Street’s top analyst calls
- Allstate initiated with a Neutral at Citi