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Allstate Investors, Are You In Good Hands? Deutsche Downgrades Stock Seeing Resistance Ahead

Dennis Haysbert famously asks TV viewers if they are in "good hands" with their insurance plans. But ask analysts at Deutsche Bank if a position in Allstate Corp  would be in "good hands" in a portfolio and the answer is not necessarily.

Joshua Shanker downgraded Allstate's stock from Buy to Hold with a price target boosted from $90 to $96, which implies limited upside ahead.

Allstate's bullish story began in late 2015 when new pricing strategies would generate a 20-percent compounded annual growth rate, the analyst explained. But fast forward to present day and the insurance company delivered a performance that was "well in excess" of what was expected two years ago.

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