Primerica rises after BMO upgrades to 'outperform'

Insurance firm Primerica's PRI.N shares rise 3.9% to $283

BMO upgrades PRI to "outperform" from "market perform"; raises PT to $318 from $292, a 17% upside to stock's last close

Brokerage says PRI's distribution-oriented model and focus on middle-income consumers have historically supported strong growth and ultimately stock performance vs peers

Adds the model also helps insulate PRI from increasing competition at the upper-end of the market for certain life and annuity products

Three of nine brokerages rate the stock "buy" or higher and nine "hold"; median PT $318 - data compiled by LSEG

As of last close, PRI stock flat YTD