Allstate (ALL) Stock: 142 Price Target And Buy Rating

By Amit Chowdhry ● Mar 3, 2022
  • The shares of Allstate Corp (NYSE: ALL) have received a $142 price target from Goldman Sachs. These are the details.

The shares of Allstate Corp (NYSE: ALL) have received a $142 price target from Goldman Sachs. And Goldman Sachs analyst Alex Scott upgraded Allstate from a “Neutral” rating to a “Buy” rating.

The rating was adjusted following in-depth frequency/severity analysis of the auto insurance environment under various scenarios.

“We have become more positive on the auto insurers, as we see potential green shoots in declining used-car prices coupled with our view that investors are increasingly willing to look past potential near-term misses as the companies reprice for elevated claim inflation that is largely attributable to the pandemic,” wrote Scott in a research note. “Additionally, auto insurers will likely continue to be prudent with respect to pricing for elevated inflation trends, which likely doesn’t factor in potential decreases in used car prices (until they are realized), leading to a quicker-than-expected margin recovery in some scenarios.”

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.