Bank of America Securities analyst Joshua Shanker reiterated a Buy rating on Corebridge Financial, Inc. yesterday and set a price target of $40.00.
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Joshua Shanker has given his Buy rating due to a combination of factors including solid earnings performance and attractive valuation. Corebridge reported first-quarter operating EPS of $1.05, matching his estimate and slightly exceeding the broader market’s expectation, with segment weakness in Individual Retirement largely offset by better results in Life Insurance, Institutional Markets, and lower corporate expenses. Despite softer net flows across key retirement and institutional products, management highlighted that core markets such as pension risk transfer remain fundamentally sound, suggesting potential for stronger inflows later in the year.
Shanker also underscores robust capital returns, with share repurchases in the quarter coming in above his forecast and additional buybacks expected over the rest of 2026, which support EPS growth through a lower share count. His price objective stays at $40, derived from applying a modest discount to peer group valuation multiples on his 2028 earnings outlook, implying meaningful upside from the current share price. Taken together, the earnings trajectory, capital deployment, and discounted valuation underpin his decision to reaffirm a Buy recommendation.
In another report released today, Barclays also maintained a Buy rating on the stock with a $30.00 price target.
CRBG’s price has also changed moderately for the past six months – from $31.260 to $27.070, which is a -13.40% drop .