Jefferies upgraded Brighthouse Financial to Buy from Hold with a price target of $54, up from $49. The analyst stays constructive on U.S. life insurance and upgrades Brighthouse ahead of the Q2 results. The company is well positioned due to its strong market share in registered index-linked annuities while the stock trades near its lowest absolute and relative multiples since its 2017 separation from MetLife, the analyst tells investors in a research note. The firm now feels Brighthouse offers an attractive risk/reward.
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