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Fly News Breaks for May 21, 2019
AIZ
May 21, 2019 | 06:13 EDT
UBS analyst John Nadel raised his price target on Assurant to $133 and kept his Buy rating after meeting with its CEO and CFO, saying the stock is positioned for "significant upside" given the business mix shift toward "fee-based, capital light businesses vs. insurance." The analyst also notes that Assurant's current valuation at 10-times forward earnings "significantly undervalues" its business mix components, including Housing with its 17%-20% ROE and Lifestile that is growing its earnings by double digits.
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