BUZZ-Raymond James downgrades Brighthouse Financial to ''market perform"

Reuters11-12
BUZZ-Raymond James downgrades Brighthouse Financial to ''market perform"

** Raymond James downgrades life insurer Brighthouse Financial > 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

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))

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