tiprankstipranks
Jackson Financial downgraded to Underperform from In Line at Evercore ISI
The Fly

Jackson Financial downgraded to Underperform from In Line at Evercore ISI

Evercore ISI downgraded Jackson Financial (JXN) to Underperform from In Line with a price target of $95, up from $74. The company has produced solid results and free cash flow since its regulatory restructuring with Brooke Re in Q4 of 2023, which has led to substantial share price outperformance, the analyst tells investors in a research note. When considering Jackson’s free cash flow being produced in its operating company, and its organic growth prospects, the firm thinks the stock is “ahead of itself somewhat.” The current price to free cash flow multiple of 12-times is too high for an asset manager that is “decaying” around 4%-5% annually, contends Evercore.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App