F&G Annuities price target raised to $46 from $40 at Piper Sandler

Piper Sandler raised the firm’s price target on F&G Annuities to $46 from $40 and keeps a Neutral rating on the shares. The firm notes “lifecoland” largely traded higher in Q3 with outperformance seen by fee and underwriting portions of the universe while many spread-focused companies have been challenged driven by concerns about spread income, sales and actuarial assumption reviews. Piper continues to favor underwriters.