Bank Of America Increases Estimates On Aflac

According to Bank of America, Aflac AFL reported 2Q11 operating EPS of $1.56 (vs. $1.35, up 16%), which was better than the estimate and consensus (both $1.54). Bank of America said that it is raising its operating EPS estimates from $6.25 to $6.33 for 2011, from $6.65 to $6.80 for 2012 and from $7.20 to $7.50 for 2013. “Our estimate increases for 2011 and 2012 are largely driven by revising our yen/dollar assumption from 83 to 80.” Aflac closed yesterday at $44.15.