-- 独立系調査会社CFRAは、に対し、以下の調査レポートを提供しました。CFRAのアナリストは、以下のように見解をまとめています。12ヶ月目標株価を15ドル引き上げ、260ドルとします。これにより、ALL株の株価は、2027年の営業利益予想（1株当たり26.05ドル、本日0.55ドル引き上げ）の10倍、2026年の営業利益予想（1株当たり28.15ドル）の9.2倍となります。これは、1年先の平均予想倍率および同業他社の平均11倍と比較して低い水準です。2027年の営業利益予想の低下は、2026年第1四半期における異常に良好な保険金請求動向（長期的な傾向とは見なしていません）の影響を反映したものです。第1四半期の営業利益は10.65ドルで、前年同期の3.53ドルを上回り、当社の予想6.85ドルおよび市場コンセンサス予想7.24ドルを上回りました。これは、保険引受業務の改善を反映しています。第1四半期の売上高成長率は3%で、当社の4～8%の予測を下回りましたが、損害保険の保険料収入は5.5%増加しました。複合比率は、災害損失が44%減少したことで、97.4%から82.0%に改善しました。基礎複合比率（災害を除く）は83.1%から80.3%に改善し、これまでの料率引き上げの成功を裏付けています。現在、当社の2026年および2027年のEPS予想の約8倍で取引されており、当社は同業他社や過去の平均と比較して株価が割安であると考えています。
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