(Updates to include analyst's commentary.)
Truist Securities increased Assurant's (AIZ) price target to $310 from $290, saying the management of the company "expressed optimism regarding the breadth of momentum in the business across customers, product lines, and geographies."
There are also prospects for strong momentum particularly in the Connected Living segment, driven by new customer wins and expanding relationships with existing clients, analysts Mark Hughes and
Maxwell Fritscher wrote in a Wednesday note.
Additionally, Assurant foresees market share gains, attractive growth opportunities across multiple fronts and a solid balance sheet, which could lead to a higher valuation and justify a higher price target, the analysts mentioned.
Assurant has an average rating of buy and mean price target of $280.50, according to analysts polled by FactSet.
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Price: $262.80, Change: $+2.25, Percent Change: +0.86%