JPMorgan analyst Jimmy Bhullar raised the firm’s price target on Unum Group (UNM) to $87 from $81 and keeps a Neutral rating on the shares. The firm shifted its view on life insurance stocks from Positive to Neutral, saying risk/rewards “have become less compelling given an incrementally downbeat outlook for business fundamentals.” It forecasts life insurers will report “weak” earnings and mixed business trends in Q1. JPMorgan reduced estimates as part of a Q1 earnings preview.
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Read More on UNM:
- Unum Group upgraded to Strong Buy from Market Perform at Raymond James
- Unum Group price target raised to $102 from $95 at BMO Capital
- Unum Group’s Strategic Moves and Financial Strength Highlighted in Buy Rating by Suneet Kamath
- Unum Group price target raised to $103 from $90 at Keefe Bruyette
- Unum Group price target raised to $84 from $80 at Morgan Stanley
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