AFLAC Steadies with Japan

Wed. October 01, 2008; Posted: 07:10 AM

Oct 01, 2008 (Zacks Investment Research via COMTEX) -- AFL | Quote | Chart | News | PowerRating -- AFLAC Incorporated (AFL) is a leading underwriter of supplemental medical insurance products in the United States and Japan. In the U.S., the company markets and administers its products primarily through its subsidiary, American Family Life Assurance Company of Columbus, and holds the leading share of supplemental health policies sold at the policyholders worksites. Although it is a U.S. based-company, AFL derived nearly 71% of its $15.4 billion 2007 revenue from its Japanese operations (AFLAC Japan) and the rest from its domestic operations. We remain encouraged by the outlook for AFL's Japan operations, as sales through the new channels (Banks and Japan Post network) are expected to gather momentum this year. After reviewing 2Q08 results, we are maintaining our FY08 and FY09 estimates and our Hold rating on the shares of AFL, with a six-month target price of $62.00 per share. The shares are currently trading at a price-to-book multiple of 3.60x, a 77% premium to the peer group median of 2.04x. Read the full analyst report on AFL

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For full details on Aflac Inc (AFL) click here. Aflac Inc (AFL) has Short Term PowerRatings of 5. Details on Aflac Inc (AFL) Short Term PowerRatings is available at This Link.

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