Citi analyst Michael Ward resumed coverage of Corebridge with a Neutral rating and price target of $19, up from $18, following a period of restriction. The analyst continues to model relatively flat forward portfolio yields, reflecting the firm’s expectation for asset management partnerships and portfolio redeployment to help offset out-year yield pressures from Federal Reserve rate cuts. Citi thinks general account credit leverage, particularly to commercial real estate, will persist as an overhang on Corebridge’s valuation.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CRBG: