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Fly News Breaks for January 19, 2016
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Jan 19, 2016 | 06:22 EDT
Macquarie analyst Amit Kumar upgraded Allstate and raised his price target to $68 from $61 on shares. Kumar said Allstate continues to raise rates, control claim costs and expenses, and pull back on growth. The analyst said the Allstate brand has increased prices by 3.5% in the first nine months of the year since 2016 and management plans to continue to raise rates until returns reach historical levels.
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