Keefe Bruyette upgraded Brighthouse Financial to Market Perform from Underperform with a price target of $47, down from $48. The stock has been weak, falling 23% year-to-date, largely driven by weaker capital generation and uncertainty over ongoing free cash flow trends, notes the analyst. While the firm doesn’t see any “clear catalysts,” it contends Brighthouse is making gradual progress improving its business mix and now trades at “a more reasonable” 2025 free cash flow yield, the analyst tells investors.
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