Jefferies Upgrades Brighthouse Financial, Inc. (BHF) to Buy

Jefferies analyst Suneet Kamath upgraded Brighthouse Financial, Inc. (NASDAQ: BHF) from Hold to Buy with a price target of $54.00 (from $49.00).

The analyst comments: "We upgrade BHF to Buy on: 1) its strategic positioning vis-a-vis our DAS / RoR theses; 2) the stock's low (i.e., attractive) P/E; 3) our view that BHF can achieve consensus buyback expectations over the next few years, even with minimal BLIC subsidiary dividends and 4) the optionality we see in BHF as one of the few remaining large annuity writers with no clear PE partnership as well as its above-peer level of holdco liquidity / market cap, both of which could be attractive to an activist investor. As noted above, today's upgrade represents the first time we've ever had a Buy-rating (or equivalent) on BHF dating back to when we started covering the stock in 2017 (i.e., the time of its separation from MET)."

For an analyst ratings summary and ratings history on Brighthouse Financial, Inc. click here. For more ratings news on Brighthouse Financial, Inc. click here.

Shares of Brighthouse Financial, Inc. closed at $43.73 yesterday.

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