Corebridge price target lowered to $39 from $40 at BofA

BofA analyst Joshua Shanker lowered the firm’s price target on Corebridge (CRBG) to $39 from $40 and keeps a Buy rating on the shares. As in 2025, the pricing trends for most P&C insurance products do not appear positive, the analyst tells investors in a research note. While pricing for liability lines remains positive, it seems that loss costs are rising more steeply than prices, the analyst says, adding that personal auto rates are flattish, while some investors are expecting decline in response to high profitability. The firm added, however, that underwriter valuations hardly look expensive, even as fundamentals have tipped in the “wrong direction.”