Allstate (ALL) PT Raised to $181 at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods analyst Meyer Shields raised the price target on Allstate (NYSE: ALL) to $181.00 (from $171.00) while maintaining a Outperform rating.

The analyst comments "We maintain our Outperform rating on ALL’s shares and raise our target price to $181 (10.5x our 2025E EPS) from $171 following its 4Q23 earnings report and conference call. We raise our 2024E/2025E EPS to 12.40/$17.20 from $11.10/$17.10, assuming faster premium growth and lower core loss ratios, partly offset by higher expense ratios. We expect continuing core loss ratio improvement to reinforce investor confidence in both ALL’s normalized earnings outlook and its overall capital adequacy, which should eventually include resumed share repurchases."

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