Truist Financial analyst Mark Hughes maintained a Buy rating on Equitable Holdings (EQH – Research Report) today and set a price target of $60.00.
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Mark Hughes has given his Buy rating due to a combination of factors that indicate strong financial performance and potential for growth at Equitable Holdings. The company reported a notable increase in operating revenue and assets under management, both showing impressive year-over-year growth. Despite a slight miss in the quarterly EPS compared to estimates, adjusted earnings per share were on track, showcasing the company’s ability to manage challenges effectively.
Additionally, Equitable Holdings demonstrates robust cash generation and shareholder returns, with significant capital returned to shareholders through dividends and share repurchases. The company’s strategic initiatives in Individual and Group Retirement segments resulted in notable earnings increases, driven by higher net interest margins and fee-based revenue. These positive financial metrics, alongside a strategic price target increase, form the basis for Mark Hughes’s optimistic outlook and Buy rating for Equitable Holdings.
In another report released today, Barclays also maintained a Buy rating on the stock with a $61.00 price target.