Zacks Investment Research upgraded shares of Assurant Inc. (AIZ) from NEUTRAL to OUTPERFORM on July 25, 2013, with a target price of $64.00.
We are upgrading our recommendation on the shares of Assurant Inc. following better than expected second quarter earnings. Going forward, we expect a growth in overall earnings with a strong contribution from some of its segments offset by weakness in other segments. Its Specialty line of business is expected to benefit from growth in multi-housing loans and higher volume in lender-placed loan portfolios. Its Solutions line will see higher top-line growth from increase in domestic as well as international businesses. The Health line of business is expected to see depressed earnings from the ongoing implementation of health care reform as well as a decline in investment income from real estate joint venture partnerships. The Employee Benefits business top line growth is expected to remain unchanged relative to 2012.
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