AllSTATE trade setup

Allstate initiated with a Buy at Citi. Citi analyst Suneet Kamath initiated coverage of Allstate with a Buy rating and $135 price target. The analyst initiated coverage on 11 U.S. Property and Casualty insurers with a neutral sector view. Despite a strong franchise and growth prospects, Allstate trades at a notable discount to its average relative price-to-earnings, says the analyst. Source Thefly.com