Piper Sandler analyst John Barnidge raised the firm’s price target on Brighthouse Financial to $47 from $44 and keeps a Neutral rating on the shares. The firm notes “lifecoland” largely traded higher in Q3 with outperformance seen by fee and underwriting portions of the universe while many spread-focused companies have been challenged driven by concerns about spread income, sales and actuarial assumption reviews. Piper continues to favor underwriters.
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