UPDATE: Citigroup Initiates Unum Group at Neutral on Lack of Near-Term Analysts

Citigroup initiated coverage on Unum Group (NYSE: UNM ) with a Neutral rating and a $24.00 price target. Citigroup commented, "We expect earnings to be held back by the weak economy, which is pressuring sales and premiums (due to lower plan enrollments and limited wage inflation). In addition, we forecast