Allstate (ALL) PT Raised to $134 at JPMorgan
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JPMorgan analyst Jimmy Bhullar raised the price target on Allstate (NYSE: ALL) to $134.00 (from $130.00) while maintaining an Overweight rating.
The analyst commented, "Strong 1Q21 results affirm our bullish stance on ALL. EPS beat forecasts due to upside in all major divisions and business trends were healthy. Our favorable view of ALL reflects the company’s strong personal lines franchise, a positive outlook for business trends, and an attractive valuation. Rising competition in the personal
auto line is a concern, but we expect a pickup in PIF growth and Allstate’s improved risk profile to help drive an expansion in its valuation over time."
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