Morgan Stanley raised the firm’s price target on Equitable Holdings (EQH) to $68 from $66 and keeps an Overweight rating on the shares. As Equitable pivots to a more balanced mix between annuities and asset and wealth management, the firm sees a path for Equitable to become less reliant on annuities, which are capital intensive, and more driven by capital light investment management and wealth management, which it says should result in better earnings power and a higher valuation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EQH:
- Equitable Holdings price target raised to $66 from $62 at Keefe Bruyette
- Equitable Holdings price target raised to $66 from $61 at Morgan Stanley
- Equitable Holdings price target raised to $72 from $69 at BMO Capital
- Equitable Holdings: Strategic Reinsurance and Capital Management Drive Buy Rating
- TD downgrades AllianceBernstein with tender capping upside