Jefferies Upgrades AXA Equitable Holdings Inc (EQH) to Buy

Jefferies analyst Suneet Kamath upgraded AXA Equitable Holdings Inc (NYSE: EQH) from Hold to Buy with a price target of $37.00 (from $28.00).

The analyst comments "Our upgrade reflects our expectations for continued Individual Retirement (IR) growth and EQH's strong capital position / low valuation. To us, it seems that the market is still valuing EQH's IR segment like a VA business, despite the fact that ~50% of account value is General Account (i.e., spread). We argue a better appreciation of IR's risk profile is likely the biggest valuation catalyst for the stock. Separately, EQH's excess capital position remains well above peer levels. We raise our PT from $28 to $37."

For an analyst ratings summary and ratings history on AXA Equitable Holdings Inc click here. For more ratings news on AXA Equitable Holdings Inc click here.

Shares of AXA Equitable Holdings Inc closed at $31.87 yesterday.

You May Also Be Interested In

• BofA Securities Downgrades Frontview REIT Inc (FVR) to Underperform
• UBS Upgrades Zhejiang Expressway Co Ltd (576:HK) to Neutral
• JPMorgan Downgrades Nippon Building Fund Incorporation (8951:JP) (NBFJF) to Neutral