Keefe Bruyette downgraded Equitable Holdings to Market Perform from Outperform with an unchanged price target of $34. While the shares are “still optically inexpensive,” Equitable’s valuation has become more reasonable on free cash flow at an 11.5% yield, the analyst tells investors in a research note .The firm struggles to see 2024 catalysts and downgrades the shares following the recent rally.
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