MKM Starts Allstate (ALL) at Buy; Shares Underperforming

Shares of Allstate (NYSE: ALL) are underperforming the broader stock market Tuesday despite a new bullish rating on the stock earlier. The stock is up 1.1 percent to $32.84 while the S&P 500 is up nearly 1.7 percent.

MKM Partners' Harry Fong initiated coverage on the stock with a Buy rating and $45 price target. The analyst's new price target represents potential upside of about 37 percent from where the stock is currently trading.

For an analyst ratings summary and ratings history on Allstate click here. For more ratings news on Allstate click here.

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