UPDATE: J.P. Morgan Lowering Price Target On AFLAC (AFL)

J.P. Morgan Chase & Co. is lowering its price target on AFLAC AFL to $62 from $65, and it has an Overweight rating after it reported earnings. In a note to investors, J.P. Morgan writes, "In our view, AFL offers one of the most compelling risk-reward profiles in the sector given its strong franchise, high earnings visibility, and limited exposure to the equity market. The stock currently trades at a roughly in-line P/E multiple with the life group, but we expect it to garner a premium over time, especially as investor concerns about the company's capital position and the risk of radiation-related claims in Japan dissipate." Shares of AFL gained 38 cents yesterday to close at $54.29.