Argus Downgrades State Auto Financial (STFC) to Hold

Argus downgraded State Auto Financial (NASDAQ: STFC) from Buy to Hold.

The firm notes shares are up 11% in the past quarter and are approaching their former target price of $26. The firm said given the lack of transparency in the company’s 4Q earnings report and the poor visibility for 2015-2016, they are reluctant to increase their estimates to support higher valuations.

They also note they have yet to see STFC consistently reach industry average ROEs in the 11%-13% range.

For an analyst ratings summary and ratings history on State Auto Financial click here. For more ratings news on State Auto Financial click here.

Shares of State Auto Financial closed at $22.72 yesterday.

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