Piper Sandler analyst John Barnidge initiated coverage of F&G Annuities with a Neutral rating and $48 price target. The firm views the shares as fairly valued. The stock already reflects the positive impact of the higher rate environment and the company’s differentiated strategy of deploying capital into owned-distribution model, the analyst tells investors in a research note. The firm points out that F&G is among the best performing life insurers in 2023, rallying 126%.
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