Allstate Corp
ALL: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$925.00 | Bkkv | Vxvrfkmyj |
Preliminary Fourth-Quarter Results Show Allstate Remains Under Pressure
Allstate expects to take a loss of about $300 million in the fourth quarter, as catastrophe losses and difficult underwriting conditions in auto weigh on results. We recognize the near-term difficulties Allstate faces, but expect results to normalize within a reasonable time frame. We will maintain our $120 fair value estimate for the no-moat company, and see the shares as roughly fairly valued from a long-term perspective.