J.P. Morgan Comments on Growth and Performance at AFLAC

J.P. Morgan has published a research report on AFLAC AFL highlighting better than expected results. In the report, J.P. Morgan wrote, "Earnings exceeded our forecast, sales in both Japan and U.S. beat expectations, U.S. recruiting improved, and management slightly raised its 2012 EPS growth guidance. The key negatives were high investment losses (which were assumed given ongoing de-risking) and a drop in the portfolio yield." J.P. Morgan rated AFLAC an Overweight with a price target of $56.00. AFLAC closed Wednesday at $44.15.