Aflac stock: Piper Sandler lifts target after mixed Q3

Published on 11/11/2026 at 16:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Aflac stock gets a fresh boost as Piper Sandler raises its target to 143 US dollars. Analyst views remain divided after mixed results.

Analyst views and capital outlook

Piper Sandler kept an Overweight rating while Mizuho maintained an Underperform stance.
Mixed third-quarter trends include stronger adjusted earnings, weaker revenue and softer premium-equivalent demand.
A planned reserve cession could strengthen Aflac's capital flexibility and support shareholder returns.

AFLAC Inc., US0010551028, Illustration mit AI erstellt.

Aflac stock received a fresh analyst signal after Piper Sandler raised its price target to 143 US dollars and kept an Overweight rating following the insurer's third-quarter results. The revision was reported on November 9, 2026, with MarketBeat covering the change in its analyst report.

What has changed since the last report

The latest relevant report on November 10 cited a Lang & Schwarz price of 112.10 euros at 16:09 CET. Aflac stock traded at 113.35 euros on Lang & Schwarz at 15:42 CET on Wednesday, November 11, 2026.

That move represents a 1.12 percent increase since the prior report and is separate from a daily comparison with an Xetra close. The price change alone provides the additional market development for this second main report.

Analyst signals remain split

Piper Sandler's move contrasts with Mizuho's more cautious stance. Mizuho raised its target to 112 US dollars but retained an Underperform rating, leaving the analyst picture divided after the quarterly release.

Aflac's third-quarter performance was uneven. Normalized earnings per share reached 1.80 US dollars, while adjusted earnings per diluted share came to 2.43 US dollars after actuarial assumption changes. Revenue was 3.27 billion US dollars, below the 4.11 billion US dollar consensus cited in the latest coverage.

Capital remains an investor focus

Portfolio-switching transactions have added more than 80 million US dollars in annualized net investment income so far this year. A planned cession of about 500 billion yen of cancer reserves to Aflac Re Bermuda is expected to release roughly 1 billion US dollars of capital, potentially supporting shareholder returns and future investment.

Operating trends remain uneven, with Japan's new premium equivalents shrinking while United States growth stays in the lower half of Aflac's target range. Investors therefore face a balance between improved assumptions and capital flexibility on one side and softer demand on the other.