Supplemental insurance provider Aflac Incorporated (AFL) on Monday caught a big downgrade from analysts at UBS.
The firm said it downgraded AFL from “Neutral” to “Sell” with a $34 price target. That target suggests a 23% downside to the stock’s Friday closing price of $44.24.
UBS said it made the move because the company has exposure to the deteriorating economic situation in Europe.
Aflac shares fell 84 cents, or -1.9%, in premarket trading Monday.
The Bottom Line
Shares of Aflac (AFL) have a 2.98% dividend yield, based on Friday’s closing stock price of $44.24 a share. The stock has technical support in the $39-$40 price area. If the shares can firm up, we see overhead resistance around the $45-$47 price levels.
Aflac Incorporated (AFL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.