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FBR cuts Aflac on valuation

FBR & Co. analyst Randy Binner downgraded to "marketperform" from "outperform," saying the stock has outperformedlarge-cap peers in recent times as "fundamental catalysts have played out."

Binner said in a May 10 note that Aflac's shares now reflectthe impact of positive sales and capital management results. The company'sshares also got a boost from a stronger yen.

The analyst lowered his price target to $68 from $71. Hechanged his EPS estimates to $6.75 from $6.60 for 2016 and to $7.05 from $7 for2017.