S&P Capital IQ Downgrades Aflac from BUY to HOLD

October 28 00:00 2011

New York, October 28 (RainbowNewsLine.com) – Analyst Cathy Seifert of S&P Capital IQ downgrades her rating on Aflac Inc (NYSE: AFL) from BUY to HOLD, while raising her estimates for the company. The 12-month target price has been raised from $42 to $53.

Analyst Cathy Seifert, in a research note published yesterday mentions that the company has reported its Q3 EPS ahead the estimate and the consensus, driven by favorable yen/dollar exchange rates and stronger than expected sales in Japan. The analyst believes that the shares which have raised 25% since mid-August will face some headwinds in 2012 among more difficult year-to-year sales comparisons and the impact of change in accounting. The EPS estimates for 2011 and 2012 have been raised from $6.20 to $6.34 and from $6.40 to $6.60, respectively.

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