Brokerage Truist raises PT on Assurant post a positive Q3
** Brokerage Truist Securities raises price target on insurer Assurant AIZ.N post results
** Truist raises PT to $240 from $220 and also raises full-year 2024 EPS estimate to $15 from an earlier $13.45, citing an upside in Q3 and lower assumed losses from Hurricane Milton
** Analysts predicted hurricane Milton could result in losses of up to $100 billion for the global insurance industry
** Assurant reported a better-than-expected third-quarter profit earlier in the week, driven by growth in its global housing segment and higher investment returns
** The brokerage also raises AIZ's 2025 EPS forecast to $18.80 from $18.20, citing "sustained momentum" seen in global housing along with global lifestyle's expected growth
** Five of 8 brokerages rate the stock "buy" or higher, and 3 "hold"; their median PT is $230 - LSEG
** AIZ's stock has gained over 22% so far in 2024 vs a 21.2% rise in the benchmark S&P 500 index .SPX
Reporting by Pritam Biswas in Bengaluru
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
