Truist analyst Mark Hughes downgraded American Equity to Hold from Buy with a price target of $55, up from $49. The firm believes that the proposed acquisition by private equity firm Brookfield will be completed at the current offer price. It is unlikely that another buyer will emerge and the acquisition will likely be completed as currently structured, the analyst tells investors in a research note.
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- American Equity downgraded to Sector Perform from Outperform at RBC Capital
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- Brookfield Reinsurance to acquire American Equity in $4.3B transaction
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