Barclays upgraded Corebridge (CRBG) to Overweight from Equal Weight with an unchanged price target of $37. The firm remains more optimistic on the life insurers heading into 2025. It sees improving free cash flow, benefits from higher interest rates, sizeable excess capital positions, strong group benefits earnings, and potential for further reinsurance and merger transactions. Barclays considers Corebridge its best idea in life insurance, citing its ongoing benefits from higher interest rates that are only temporarily paused by floater yield reductions.
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Read More on CRBG:
- Corebridge price target raised to $35 from $34 at Piper Sandler
- Corebridge price target raised to $37 from $36 at Barclays
- Corebridge Financial Sees Strategic Board and Ownership Shift
- Corebridge price target raised to $37 from $35 at TD Cowen
- Corebridge price target raised to $39 from $34 at Evercore ISI