Wall Street Analysts Are Neutral on Top Financial PicksWe assume that this offer would represent ~3.9x 2026E P/E (vs. the ~3.4x 2026E P/E offer from Aquarian), which is the multiple where Brighthouse's closest peer, Jackson, is currently trading. Our bear case of $21 remains unchanged; it assumes 1) the Aquarian deal fails to close, 2) the stock goes back to trading on fundamentals, and 3) the macro environment deteriorates, among other assumptions. Inc (BHF .O) Inc | North America Aquarian to Acquire Brighthouse for $70/share; Moving Brighthouse Rating to EW Brighthouse announced early Thursday an agreement to be acquire by Aquarian, a Abu Dhabi-backed financial investor. In turn, we are upgrading BHF from UW to EW and adjusting our price target to $70, matching the acquisition price.