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Fly News Breaks for January 6, 2017
ALL
Jan 6, 2017 | 08:24 EDT
As previously reported, Credit Suisse upgraded Allstate to Outperform from Neutral and increased its price target to $80 from $73. Analyst Ryan Tunis said as shares reflect more "normal margin levels," lack of earnings growth catalysts are becoming a focus. Tunis does not expects much futher improvement and sais a run-off life business sale appears unlikely which could limit capital return, and auto PIF growth is likely to maintain negative in the medium term. Further, Allstate benefits less than several of its commercial P&C peers from higher interest rates.