SunTrust analyst Mark Hughes lowered his price target on Assurant (AIZ) to $112 and also lowered his FY18 EPS target to $7.55 from $8.10, saying the company's acquisition of The Warranty Group should be dilutive in the short term. The analyst also notes the impact of lower smartphone shipments in Q1 reducing consumer electronics insurance premiums while also pointing to higher assumed weather-related losses. Longer term, Hughes keeps his Buy rating on Assurant, saying the weakness in smartphone volume and mortgage solutions has likely reached its peak and the fundamental backdrop should improve.