Brighthouse Financial rises after Barclays upgrades to 'overweight'

Metlife

29/01/2025 13:08

** Shares of life insurer Brighthouse Financial  BHF.O 
climb 2.9% to $60 premarket
    ** Barclays upgrades BHF to "overweight" from "equal
weight"; raises PT to $85 from $52, a 45.8% upside to the
stock's last close
    ** Reuters reported on Tuesday that BHF was exploring
options that included a potential sale
    ** Brokerage says the development does not come as a
complete surprise, given BHF has struggled to meet its cash flow
projections ever since it was spun off from MetLife  MET.N  in
2017
    ** About a 45% further upside potential to the stock's
current levels remains, despite the 14% jump on Tuesday -
Barclays      
    ** Adds there could be a bidding war for BHF in the event of
a sale due to the abundance of interest and competitiveness
around acquiring annuity companies
    ** BHF stock fell 9.2% in 2024

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))