Goldman Sachs Upgrades Allstate (ALL) to Neutral
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Price: $48.76 --0%
Rating Summary:
11 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Rating Summary:
11 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Trade ALL Now!
Goldman Sachs upgraded Allstate (NYSE: ALL) from Sell to Neutral and raised their price target from $31 to $37 following better-than-expected Q1 results and execution.
The firm comments, "We are moving to a Neutral rating on shares of Allstate and removing from the Americas Sell list, as the company appears to be able to digest higher advertising costs in Esurance through more profitable underwriting elsewhere."
Goldman raised FY12 EPS from $3.57 to $4.13, FY13 from $3.64 to $4.05 and FY14 from $3.85 to $4.35.
For an analyst ratings summary and ratings history on Allstate click here. For more ratings news on Allstate click here.
Shares of Allstate closed at $32.91 yesterday, with a 52 week range of $22.27-$34.40.
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The firm comments, "We are moving to a Neutral rating on shares of Allstate and removing from the Americas Sell list, as the company appears to be able to digest higher advertising costs in Esurance through more profitable underwriting elsewhere."
Goldman raised FY12 EPS from $3.57 to $4.13, FY13 from $3.64 to $4.05 and FY14 from $3.85 to $4.35.
For an analyst ratings summary and ratings history on Allstate click here. For more ratings news on Allstate click here.
Shares of Allstate closed at $32.91 yesterday, with a 52 week range of $22.27-$34.40.
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Good Rating
Lee Evan Tabas on May 3, 2012 11:03 AMMark as Spam | Reply to this comment
We agree that Alll State is a Good
pick at thi time.