Allstate price target raised to $244 from $235 at BMO Capital

BMO Capital analyst Michael Zaremski raised the firm’s price target on Allstate (ALL) to $244 from $235 and keeps an Outperform rating on the shares after its Q3 results. The firm notes that while auto loss ratios will begin moving higher next year given rate increase are in the very low single digits, its estimates improve off a lower/better loss ratio starting point, the analyst tells investors in a research note.