ARGUS Maintains a 'Hold' Rating on AFLAC (AFL), Vulnerable to Economic Weakness
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ARGUS maintains a Hold rating on AFLAC Inc. (NYSE: AFL).
ARGUS analyst says, "While AFL has made a 42% recovery from its November low near $30, we believe that economic strains in the U.S. and Japan will pressure sales in 2009 and cap upside performance in the stock. We believe that the stock's valuation is reasonable under current economic circumstances, though we do not see any operating or environmental catalysts in the first half of 2009 that would lead to significant price appreciation. The company will most likely hit its operating earnings guidance again in 2009, primarily due to margin improvement and share repurchases."
Aflac Incorporated is a general business holding company and acts as a management company, overseeing the operations of its subsidiaries by providing management services and making capital available.
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