Analyst Suneet Kamath of Jefferies maintained a Buy rating on Corebridge Financial, Inc. (CRBG – Research Report), retaining the price target of $39.00.
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Suneet Kamath’s rating is based on Corebridge Financial, Inc.’s strong fourth-quarter performance, which surpassed expectations in several areas. The company’s operating earnings per share (EPS) exceeded both Jefferies’ and consensus estimates, driven by robust results in the Life Insurance and Corporate segments, which helped offset a miss in Individual Retirement.
Additionally, Corebridge’s efforts to manage Base Spread Income (BSI) and maintain favorable underwriting margins demonstrate its ability to navigate challenging market conditions. The company has also shown resilience through strategic capital management, including significant share buybacks and a dividend increase, providing a solid foundation for future growth. Given these positive indicators and the potential for continued annuity growth, Kamath maintains a Buy rating on Corebridge Financial’s stock.
According to TipRanks, Kamath is a 5-star analyst with an average return of 12.5% and a 71.48% success rate. Kamath covers the Financial sector, focusing on stocks such as Prudential Financial, Metlife, and Unum Group.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $40.00 price target.