BUZZ-Raymond James downgrades Brighthouse Financial to ''market perform"
Raymond James has downgraded Brighthouse Financialfrom "outperform" to "market perform" due to the stock nearing its target price of $72, following the announcement of its acquisition by Aquarian at $70 per share. Despite a potential 6% upside to the takeout price and a high probability of deal closure in 2026, Raymond James believes other stocks offer better intermediate-term upside. The firm also lowered its EPS estimates for 2026-2027 after removing share repurchases. Currently, one brokerage rates the stock as "buy," eight as "hold," and one as "sell."
Raymond James downgrades life insurer Brighthouse Financial (BHF.O) to “market perform” from “outperform” Brokerage cites stock being close to its previous target of $72 following the announcement of its deal to be acquired by Aquarian for $70 per share
“While there is still 6% upside to the takeout price from here, and we expect the deal has a very high probability of closing in 2026, we think there are other stocks in our coverage with more intermediate-term upside potential” - Raymond James
Also decreases its 2026-2027 EPS estimates after removing share repurchases following the Aquarian deal
One of 10 brokerages rates the stock “buy” or higher and eight “hold”, and one “sell”; their median PT is $70 - data compiled by LSEG
As of last close, stock up ~37% YTD
