Jefferies Upgrades Unum Group (UNM) to Buy as P/Es below historical averages

Jefferies analyst Daniel Bergman upgraded Unum Group (NYSE: UNM) from Hold to Buy with a price target of $50.00 (from $44.00).

The analyst commented, "While UNM rose 67% in 2022, its absolute and relative P/Es are below historical averages. On the current environment, we note: 1) UNM's core business is performing as well as we've seen; 2) it should have only positive leverage to high rates (given its group benefits focus, LTC exposure and lack of disintermediation risk); and 3) it has one of the strongest excess capital positions in the space (i.e., 16% / 26% of equity / market cap, vs. 8% /12% peer averages)."

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

Shares of Unum Group closed at $36.65 yesterday.

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