-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We raise our 12-month target price by $15 to $260, valuing ALL shares at 10x our 2027 operating EPS estimate of $26.05 (raised today by $0.55) and at 9.2x our 2026 EPS estimate of $28.15, vs. the one-year average forward multiple and the peer average of 11x. The decline in operating EPS expected in 2027 refects the impact of unusually favorable claim trends in Q1 2026 (that we don't see as a long-term run rate). Q1 operating EPS of $10.65 vs. $3.53 in the prior year topped our $6.85 estimate and the $7.24 consensus forecast, reflecting improved underwriting performance. Q1 revenue growth of 3% was below our 4%-8% forecast, though P-C earned premiums rose 5.5%. The combined ratio improved to 82.0% from 97.4% on 44% lower catastrophe losses. The underlying combined ratio (ex-catastrophes) improved to 80.3% from 83.1%, validating the success of previous rate increases. Currently trading at around 8x our 2026 and 2027 EPS estimate, we view the shares as undervalued vs. peer and historical averages.