Corebridge upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank upgraded Corebridge (CRBG) to Buy from Hold with a price target of $40, up from $33. Corebridge is poised for “robust” organic growth in 2025, benefiting from favorable demographics, strong equity markets, and a sustained period of higher interest rates, the analyst tells investors in a research note. The firm says the company’s focus on operational efficiency and balance sheet optimization is expected to further enhance returns on capital and drive shareholder value. It anticipates the announcement of a new efficiency plan alongside the full-year results to serve as a catalyst for the shares. Second, with further divestitures of AIG’s Corebridge holdings in 2025, Corebridge could reach the float-adjusted market capitalization required for inclusion in the S&P 500, contends Deutsche Bank.