Keefe Bruyette upgraded Jackson Financial to Outperform from Market Perform with a price target of $68, up from $49. The company guided to stronger 2024 capital return and much stronger ongoing free cash flow generation, the analyst tells investors in a research note. The firm also expects far less capital volatility going forward due to the formation and funding of the Brooke Re captive, coupled with increased interest rate hedging that more closely aligns with economic risk.
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