Brighthouse Financial price target lowered to $56 from $59 at JPMorgan

JPMorgan lowered the firm’s price target on Brighthouse Financial (BHF) to $56 from $59 and keeps an Underweight rating on the shares as part of a 2025 life insurance preview. The firm’s long-term fundamental outlook for the life insurance sector is downbeat, but it remains bullish on stocks in the near term. The favorable macro backdrop, insurers’ “healthy” balance sheets and flexibility for share buybacks, and current valuations will enable life insurance stocks to outperform further, contends JPMorgan. It considers potential deterioration in corporate credit the key risk to its bullish stance.