Citi Reiterates Aflac Hold, Reduces PT to $50

Citi reiterated its Aflac (AFL) Hold rating and reduced its Aflac price target from $55 to $50 in a research report published today. In the report, Citi states, "We still like the Aflac story, but it will take longer than the 3 quarters management would like to de-risk the $88.4B investment portfolio." Shares of Aflac were trading at $46.82 at the time of posting, up 1.52% from Wednesday's market close.