Scotia Capital Reiterates Sector Outperform on Aflac

Scotia Capital is out with its report today on Aflac (NYSE: AFL), reiterating Sector Outperform on AFL.

In a note to clients, Scotia Capital writes, "AFL aims to complete the de-risking strategy by YE2011, which, in our view, will remove one of the overhangs on the stock. We believe incremental progress in this process in addition to a continuation of otherwise strong fundamentals in Japan and improving sales and recruiting results in the U.S. should be catalysts for the shares. We reiterate our 1-SO rating and one-year target price of $68. AFL is our top pick in the life group."

At the time of posting, shares of AFL were trading pre-market at $44.14, down 0.36% from Friday's close.