Raymond James Upgrades Unum Group (UNM) to Strong Buy

Raymond James analyst Wilma Burdis upgraded Unum Group (NYSE: UNM) from Market Perform to Strong Buy with a price target of $108.00.

The analyst comments: "Upgrading Unum (UNM) to Strong Buy, following our meeting with CEO Rick McKenney and CFO Steve Zabel at the Raymond James Institutional Investors Conference (IIC) in Orlando, Florida. We like UNM’s attractive group insurance businesses and expect the company to re-rate on continued de-risking of the long-term care (LTC) insurance block.

Attractive long-term targets include 4-7% core annual premium growth and 8-10% EPS CAGR. Solid premium growth is supported by customer acquisition, wage inflation, and ~90% persistency. Earnings growth is in-line with 4-7% premium growth, and EPS growth is boosted by consistent share repurchases. We think core business ROE is mid-teen."

For an analyst ratings summary and ratings history on Unum Group click here. For more ratings news on Unum Group click here.

Shares of Unum Group closed at $77.91 yesterday.

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