Supplemental insurer Aflac Incorporated ( AFL ) on Wednesday saw its price target cut by analysts at Citigroup.
The firm said it lowered its price target for AFL from $57 to $55. That new target suggests a smaller 10% upside to the stock's Tuesday closing price of $49.23.
Citigroup said it made the move amid uncertainty stemming from its recent analyst meeting with AFL management. The analyst maintained its "Hold" rating on the stock.
Aflac's shares were mostly flat in premarket trading Wednesday.
The Bottom Line
Shares of Aflac ( AFL ) have a 2.44% dividend yield, based on last night's closing stock price of $49.23. The stock has technical support in the $46 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.
Aflac Incorporated ( AFL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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