** Shares of insurer Unum Group UNM.N rise 3.1% to $80.35
** Raymond James upgrades UNM to "strong buy" from "market perform"; sets PT of $108, a 38.6% upside to stock's last close
** Brokerage thinks UNM is best positioned among its life insurance peers to benefit from strong demand for offerings such as long-term care $(LTC)$ insurance
** Expects valuation to move higher, as UNM continues to de-risk its business through reinsurance deals
** Brokerage expects UNM could use its strong capital levels to absorb any potential negative impacts from additional LTC reinsurance deals
** Nine of 14 brokerages rate the stock "buy" or higher and five "hold"; with a median PT of $90, according to data compiled by LSEG
** UNM stock up 9.7% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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