Keefe, Bruyette & Woods Downgrades Assurant to Market Perform, Raises Price Target to $182
Portfolio Pulse from Benzinga Newsdesk
Keefe, Bruyette & Woods analyst Thomas McJoynt-Griffith downgraded Assurant (NYSE:AIZ) from Outperform to Market Perform while raising the price target from $170 to $182.
February 12, 2024 | 10:31 am
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Assurant was downgraded from Outperform to Market Perform by Keefe, Bruyette & Woods, though the price target was increased from $170 to $182.
The downgrade to Market Perform suggests a neutral outlook on Assurant's stock performance in the short term, indicating that the stock might not outperform the market as previously expected. However, the increase in the price target from $170 to $182 signals a positive adjustment in the valuation, suggesting that the stock still has potential for price appreciation. The mixed nature of this analyst action (downgrade with a higher price target) could lead to varied investor interpretations, potentially resulting in neutral short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100