Corebridge price target lowered to $24 from $26 at Morgan Stanley

Morgan Stanley analyst Nigel Dally lowered the firm’s price target on Corebridge to $24 from $26 and keeps an Equal Weight rating on the shares given how peer multiples have come under pressure due to concern over a credit cycle, especially within commercial real estate. While the firm says its revised price target “suggests solid upside potential from where the stock is currently trading,” it also notes the upside is “in-line with what we see at many of its peers” so it keeps an Equal Weight rating on the stock.