Upside in Japan Helps Push 3Q EPS Beat for Aflac (AFL); Piper Jaffray Raises Price Target to $77
Piper Jaffray maintained a Neutral rating on AFLAC (NYSE: AFL), and raised the price target to $77.00 (from $76.00), following the company's 3Q earnings results. AFL reported 3Q15 Op EPS of $1.56, well ahead of the consensus estimate of $1.48.
Analyst John Nadel commented, "We estimate most of the EPS/margin upside was due to one-time items. Given the outlook for U.S. sales (now at the lower end of the expected range), it doesn't appear the broker channel is expected to contribute the kind of growth in seasonally strong 4Q we believe many were hoping to see. The fact that we're modestly raising forward estimates (not yen-driven) is a noteworthy development vs. other names that have already reported, but we're still concerned 2016 guidance (to be provided in December) is likely to disappoint and thus we remain Neutral."
For an analyst ratings summary and ratings history on AFLAC click here. For more ratings news on AFLAC click here.
Shares of AFLAC closed at $63.15 yesterday.
