Equitable Holdings upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette analyst Ryan Krueger upgraded Equitable Holdings (EQH) to Outperform from Market Perform with a price target of $58, up from $54. The firm says that despite the stock’s strong 2024 performance, it sees a favorable outlook from here. Equitable is on track to deliver its 2023-2027 financial targets of 12%-15% annual earnings growth, cash generation of 10%-plus annually, and a 60%-70% payout ratio, benefiting from retirement growth tailwinds and an increasingly integrated retirement, wealth, asset management model, the analyst tells investors in a research note. In addition, Keefe views the stock’s valuation as “still relatively modest.”