Corebridge re-initiated with an Outperform at Keefe Bruyette

Keefe Bruyette re-initiated coverage of Corebridge (CRBG) with an Outperform rating and $32 price target The life insurance sector presents a mixed fundamental picture, and while companies have reduced liability tail risk, improved free cash flow conversion, and benefited from stronger growth, they face intensifying competition, rising investment leverage, greater balance sheet complexity, and eventual fading macro tailwinds, the analyst tells investors in a research note.