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  • Citigroup Inc. (NYSE:C) Downgraded Allstate to “Hold”

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    Friday June 3, 2011 at 09:42 am EST
    Citigroup Inc. (NYSE:C) Downgraded Allstate to “Hold”
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    The Allstate Corporation (NYSE:ALL) was downgraded by Citigroup Today and its price target was also cut.

    Citigroup Inc. (NYSE:C) said that it downgraded Allstate Corp. from “Buy” to “Hold” and cut its price target by $1 to $36 which is still a 20% gain potential from Thursday's closing.

    As a reminder, ALL warned investors that April catastrophe losses could total a record $1.4 billion, driven by damages in the U.S. and Canada stemming from high tornado activity. Shares of Allstate Corp. (NYSE:ALL)fell 2% this morning following the downgrade.

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