Morgan Stanley analyst Bob Huang notes that the Financial Times stated that Brighthouse Financial (BHF) is reportedly looking to sell itself and that private capital managers may be interested. Due to “the wide range of potential outcomes in the event such an acquisition materializes,” the firm is removing its Underweight rating and prior $45 price target on the stock and moving to Not-Rated.
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Read More on BHF:
- Brighthouse Financial upgraded to Overweight from Equal Weight at Barclays
- Brighthouse Financial seeks buyer for whole company or minority stake, FT says
- Brighthouse Financial up 11% after FT says company exploring sale
- Brighthouse Financial working with bankers to explore sale, FT reports
- Brighthouse Financial price target lowered to $41 from $42 at Wells Fargo