Corebridge price target raised to $34 from $33 at BofA

BofA analyst Joshua Shanker raised the firm’s price target on Corebridge (CRBG) to $34 from $33 and keeps a Buy rating on the shares. Corebridge’s Q4 operating result edged the firm’s “Street high forecast” of $1.03 and beat consensus estimates when the company’s results were preannounced with AIG‘s (AIG) results on February 13, the analyst tells investors. AIG discussed their intention to reduce their ownership prior to the second half of 2024, which will result in deconsolidation of Corebridge’s financials from AIG’s results, noted the analyst, who points out that strong results within Individual Retirement more than offset misses in Corebridge’s remaining segments.