Piper Sandler lowered the firm’s price target on Brighthouse Financial (BHF) to $55 from $63 and keeps a Neutral rating on the shares. The firm is reducing its EPS estimates in the space driven by continued fee and spread headwinds. This was confirmed by a rather challenging pre-announcement of variable investment income from MetLife (MET) in late June suggesting this swing factor for a large chunk of lifecoland got sequentially worse, which also – in Piper’s opinion – pushes out the normalization factor towards 2026.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BHF:
- Raymond James sees Brighthouse buying opportunity after FT report
- TPG, Aquarian bidding on Brighthouse Financial, FT reports
- Brighthouse Financial Stockholders Vote on Key Proposals
- Brighthouse Financial Opposes Potemkin’s Mini-Tender Offer
- Brighthouse Financial recommends shareholders reject mini-tender by Potemkin