Insurer Unum rises after Raymond James upgrades to 'strong buy'

Unum

05/03/2025 16:20

** Shares of insurer Unum Group UNM.N rise 3.1% to $80.35

** Raymond James upgrades UNM to "strong buy" from "market perform"; sets PT of $108, a 38.6% upside to stock's last close

** Brokerage thinks UNM is best positioned among its life insurance peers to benefit from strong demand for offerings such as long-term care (LTC) insurance

** Expects valuation to move higher, as UNM continues to de-risk its business through reinsurance deals

** Brokerage expects UNM could use its strong capital levels to absorb any potential negative impacts from additional LTC reinsurance deals

** Nine of 14 brokerages rate the stock "buy" or higher and five "hold"; with a median PT of $90, according to data compiled by LSEG

** UNM stock up 9.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))