Argus analyst Jacob Kilstein lowered his price target on Allstate to $106 after its disappointing Q3 earnings as well as the November 15th update of October catastrophe losses of $160M coming mainly from the impact of Hurricane Michael in Florida. With the company also facing losses related to wildfires in California, the analyst also lowers his FY18 EPS view to $9.09 from $9.37. Kilstein keeps his Buy rating however, stating that Allstate has the ability to raise prices, cut costs and improve underwriting. The analyst also expects its management to continue to boost profitability and sees the stock as "favorably valued" at 9.6-times his forward earnings estimate, which is at the low end of its 9.6- to 17.4-times 5-year historical range.