Scotia Capital Maintains Sector Outperform on Aflac

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

In a note to clients, Scotia Capital writes, "AFL can partially offset the impact of its de-risking plan by swapping USD for JPY debt. Steady progress on actions underway in 2011 plus a continuation of otherwise strong fundamentals in Japan and improving trends in the U.S. should be catalysts for the shares. We remain at 1-SO with a one-year PT of $68. AFL remains our top pick in the life group."

At the time of posting, shares of AFL were trading at $46.39, up 0.59% from Wednesday's close.