UPDATE: UBS Downgrades Allstate (ALL) to Neutral; Valuation Call

August 3, 2012 7:38 AM EDT
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Price: $74.22 -0.4%

Rating Summary:
    14 Buy, 12 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 10 | New: 6
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(Updated - August 3, 2012 12:15 PM EDT)

UBS downgraded Allstate (NYSE: ALL) from Buy to Neutral. PT $38.

Analyst, Brian Meredith, said, "Up 33% this YTD, ALL has significantly outperformed the price gains of 4% for the average P/C insurer and 9% for the S&P 500. ALL shares currently are within 4% of our price target, and we now see little upside to consensus EPS estimates."

However, Meredith is cautious on his call, and thinks it's unlikely, but if standard auto policies begin to rise, shares could continue higher.

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 $36.53 yesterday.

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