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Allstate Upgraded to “Buy” at Argus (ALL)

Insurance giant The Allstate Corporation ( ALL ) on Monday caught a big upgrade from analysts at Argus Research.

The firm said it boosted its rating on ALL from "Hold" to "Buy" with a $36 price target, suggesting a 15% upside to the stock's Friday closing price of $31.24.

Allstate shares, which have risen nearly 14% since the start of 2012, were mostly flat in premarket trading Monday.

The Bottom Line

Shares of Allstate ( ALL ) have a 2.82% dividend yield, based on Friday's closing stock price of $31.24. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $32-$34 price levels.

The Allstate Corporation ( ALL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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