Morgan Stanley Upgrades Allstate to Overweight, Raises Price Target to $171
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Michael Phillips upgraded Allstate (NYSE:ALL) from Equal-Weight to Overweight and increased the price target from $117 to $171, indicating a positive outlook on the company's stock.

January 04, 2024 | 11:30 am
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POSITIVE IMPACT
Allstate's stock rating was upgraded by Morgan Stanley from Equal-Weight to Overweight, with a significant increase in the price target from $117 to $171.
The upgrade from Equal-Weight to Overweight by a major financial institution like Morgan Stanley suggests a strong vote of confidence in Allstate's future performance. The substantial raise in the price target further underscores the positive outlook and is likely to influence investor sentiment positively, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100