Corebridge Financial, Inc. (NYSE:CRBG) is included among the Billionaire George Soros’ Stock Portfolio: 10 Best Stocks to Buy.
On May 26, Piper Sandler lowered her price recommendation on Corebridge Financial, Inc. (NYSE:CRBG) to $31 from $35. He reiterated his overweight rating on the stock. The firm said the change reflects the stock’s recent performance and the passage of time. Piper noted that it has generally increased pricing targets for most insurance companies and lowered targets for some insurance brokers. Their analysis takes a bottom-up approach. Following the first quarter results, the firm believes investors could benefit better by focusing on insurance companies rather than brokers. According to Piper, technical performance provided stronger-than-expected support for carriers, while brokers delivered weaker organic growth results.
On May 13, BofA raised its price target for CRBG to $41 from $40 and maintained a Buy rating on the stock. The analyst stated that neither Corebridge nor Equitable (EQH) are currently listed in the S&P indices. If a combination were to occur between the two companies and the merged company managed to enter the index, it could generate substantial demand for the shares. The analyst added that such demand could potentially outweigh the impact of a share buyback program.
Corebridge Financial, Inc. (NYSE:CRBG) offers retirement solutions and insurance products throughout the United States. The company works with financial institutions and professionals to help people plan, save, and build safer financial futures.
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