KBW Upgrades FBL Financial Group (FFG) to Outperform
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Keefe, Bruyette, and Woods upgrades FBL Financial Group (NYSE: FFG) from Market Perform to Outperform, witha $29 price target.
The firm believes the 16% sell off and decline presents a buying opportunity for investors. In addition, the firm said, "We believe guidance for rest of '08 is fairly conservative and FFG is trading at a discount not only to GAAP book value, but statutory book value, which we don't often see. We lowered our price target to $29 (from $35), which offers almost 29% total return potential."
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