Allstate Is Smith Barney's Top Pick In 2004
NU Online News Service, Jan. 8, 4:06 p.m. EST?Smith Barney, a New York-based investment brokerage firm, today released its U.S. top picks for 2004, with The Allstate Corporation being named as its top pick in the property-casualty sector.[@@]
Ronald Frank, a Smith Barney analyst, said Allstate has produced "consistent positive earnings surprises" and has increased earnings guidance during 2003 on the strength of its p-c underwriting margins. "We see the potential for continued positive surprises over the next several quarters," Mr. Frank said.
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