UBS downgraded Corebridge (CRBG) to Sell from Buy with a price target of $28, down from $40, after assuming coverage of the name. The firm’s analysis suggests 4% downside risk to IR assets under management through year-end 2026 and believes consensus is overlooking the combination of fixed/index annuity surrender pressure, as well as VA outflows, the analyst tells investors in a research note. The fundamental picture creates a negatively-skewed outlook, UBS argues.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRBG:
- Corebridge downgraded to Sell from Buy at UBS
- Corebridge price target raised to $38 from $35 at Piper Sandler
- Corebridge Financial Secures New $3 Billion Credit Facility
- Morgan Stanley Has a New Play for Investors: ‘Go Long on These Financial Stocks’
- Corebridge upgraded to Overweight from Equal Weight at Morgan Stanley
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue