Assurant (AIZ) PT Raised to $235 at KBW; 'Staying Outperform as Momentum is Positive'

Keefe, Bruyette & Woods analyst Tommy McJoynt raised the price target on Assurant (NYSE: AIZ) to $235.00 (from $225.00) while maintaining an Outperform rating.

The analyst commented: "Staying Outperform as Momentum is Positive; Post the 2Q beat, we're raising '25E/'26E/'27E forward EPS estimates slightly and taking our target to $235 (from $225). Management raised its FY25 EPS excl. cats guidance to "approaching 10% growth" from "modest growth" previously (we are now at 8% growth). We reiterate our Outperform rating as we expect the momentum across the business units to gain appreciation: 1) Connected Living (mobile device protection) is seeing mobile device count growth and new client/program wins, 2) Auto (vehicle service contract) underwriting margins have inflected positive, and 3) Housing (lenderplaced) profit growth remains robust, benefiting from expense leverage. We're about 2% above consensus on '26E EPS excl. cats (more narrowly above consensus incl. our more conservative modeled cat load)."

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