Assurant price target raised to $250 from $240 at Truist

Truist raised the firm’s price target on Assurant (AIZ) to $250 from $240 and keeps a Buy rating on the shares following quarterly results. The firm is reducing its 2025 EPS estimate to $16.35 from $18.80 based largely on higher assumed catastrophe losses from the LA wildfires. Truist’s non-cat forecast goes to $20.90 from $21.35, influenced by management guidance regarding favorable reserve development. Additionally, the firm is establishing a 2026 EPS estimate of $20.50, including $2.90 per share in cat losses; its non-cat estimate of $23.40 is up 12% year over year. Management is anticipating strong growth in Global Housing aside from the tough comparison against $107M of prior year reserve development in 2024. Global Housing profitability should be healthy despite the elevated catastrophe losses, adds Truist.