Key Highlights

● ALL closed at $229.48 on 9 October 2026, down 0.5 per cent on the day, and the $262.26 consensus target implies upside of about 14.3 per cent.

● The consensus draws on 20 analysts, with targets from $215 to $319, while the second data set shows a $270.55 mean from 25 analysts.

● Market data shows six Buy, two Strong Buy, eight Hold and four Sell ratings, a Hold consensus.

● Five of the six latest named changes were cuts, including Citigroup to $215, Goldman Sachs to $250 and Morgan Stanley to $240.

The Allstate Corporation (NYSE:ALL) closed at $229.48 on Friday 9 October 2026, down 0.5 per cent on the day. The insurer is a constituent of the S&P 500, and analyst opinion on the shares is divided after a run of cuts in the first week of October.

What Is the Latest Analyst Price Target?

Market data shows an average analyst price target of $262.26 from 20 analysts with ratings in the past 12 months. Against the $229.48 close, the consensus target suggests implied upside of about 14.3 per cent. The range runs from $215 to $319.

The second data set, using third-party data, shows a mean of $270.55 and a median of $270.50, with a high of $336 and a low of $191 across 25 analysts. Its forecasts were last updated on 7 October 2026. The simple average of the named broker targets on market data since July is about $263, close to the market data figure.

What Are Wall Street Analysts Saying?

Opinion is divided. Market data shows 6 Buy, 2 Strong Buy, 8 Hold and 4 Sell ratings, a consensus of Hold. The second data set lists 9 Strong Buy, 2 Buy, 9 Hold, 2 Sell and 3 Strong Sell, also a Hold consensus.

The first week of October brought a run of cuts. On 7 October 2026, Mizuho lowered its target from $300 to $295 with Outperform, Barclays lowered from $226 to $221 with Underweight, and HSBC upgraded the shares from Hold to Buy with a $266 target. Morgan Stanley cut from $265 to $240 on 6 October, Citigroup cut from $240 to $215 with a Sell rating on 2 October, and Goldman Sachs cut from $280 to $250 with Neutral on 1 October. Earlier, in August, JPMorgan raised from $282 to $292, UBS from $261 to $275, and Wells Fargo moved to Underweight with a $250 target.

What Could Help the Stock Reach the Price Target?

Market data shows second-quarter earnings per share of $8.99 against a $6.06 consensus, with revenue of $18.60 billion, up 11.8 per cent year on year. No forward guidance was included. If results keep exceeding expectations, analysts may reconsider the recent reductions. HSBC's upgrade shows that not every broker has turned more cautious, and several targets, including Mizuho's $295 and Raymond James's $315, remain well above the share price.

What Could Prevent the Stock Reaching the Target?

The direction of revisions in October has been downward, and five of the six latest named changes were cuts. Citigroup's $215 and Barclays' $221 targets are below the current share price, and four market data analysts rate the stock Sell. Changes in claims costs, market volatility and results that disappoint expectations are general factors that could keep the shares below analyst estimates.

What Should Investors Watch Next?

Items to watch include further target revisions and for how quickly the data sets reflect the October changes.

Allstate's Split Panel Turns Cautious After a Week of Cuts

Allstate closed at $229.48 on 9 October 2026, with the $262.26 consensus target about 14 per cent higher and the second data set's $270.55 mean higher still. Opinion is divided, with four Sell ratings in market data and Citigroup's $215 and Barclays' $221 targets sitting below the share price, while HSBC's upgrade to Buy and targets of $295 from Mizuho and $315 from Raymond James show that not every broker has turned cautious. Market data reports second-quarter earnings per share of $8.99 against a $6.06 consensus and revenue up 11.8 per cent, but the October cuts have dominated recent revisions.