Aflac dips; TD Cowen starts coverage with 'hold' rating

Aflac

09/10/2024 18:37

** Supplemental health insurance provider Aflac's  AFL.N  
shares fall ~1.4% to $110.86 
    ** TD Cowen initiates coverage on AFL with 'hold' rating and
PT of $102
    ** Brokerage says AFL has competitive advantage due to its
strong brand and distribution strength, but expects intense
competition in Japan to limit AFL earnings growth
    ** Japan's declining overall population and already high
insurance product penetration to put pressure on co's growth, TD
Cowen says
    ** 3 of 16 brokerages rate AFL stock "buy" or higher, 11
"hold" and 2 "sell"; their median PT is $98.50 - LSEG data
    ** Including session's moves, stock up ~34.32% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))