Piper Sandler Upgrades Assurant (AIZ) to Overweight

Piper Sandler analyst John Barnidge upgraded Assurant (NYSE: AIZ) from Neutral to Overweight with a price target of $223.00.

The analyst comments: "We are upgrading AIZ to Overweight from Neutral. We believe shares have unnecessarily gotten caught up in tariff-related market volatility and view the current valuation as too cheap to ignore while we see EPS as intact for a number of reasons. 1) Auto warranty (~55% of premiums in Global Lifestyle, which is ~55% of overall EBITDA) has gone through a period of meaningful pricing increases to address input costs, and the turn should become more pronounced in '25 given the multi-year nature to the business's contracts. Further, with 2/3 of the risk borne by the enterprise partner, input cost headwinds impact appears measured. 2) Top-line growth in Global Housing strikes us as intact. 3) Global Housing underwriting guidance is rather conservative in our opinion. 4) Shares rarely trade at ~10x forward EPS like now vs. 10-year average of 11.6x."

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

Shares of Assurant closed at $193.24 yesterday.

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