Brighthouse Financial (BHF) Given a $64.00 Price Target by Wells Fargo & Co Analysts
Brighthouse Financial (NASDAQ:BHF) has been given a $64.00 price target by analysts at Wells Fargo & Co in a note issued to investors on Monday. The firm presently has a “hold” rating on the stock. Wells Fargo & Co’s price target suggests a potential upside of 14.88% from the stock’s previous close.
The analysts wrote, “We still believe the central issue on the stock is when BHF will reach a variable annuity (VA) asset level equal to CTE95 plus $3 billion, because at that point the company can begin returning capital. The S&P 500 is down for the year (-0.66% YTD) and the increased volatility in equity markets could correspond with increase hedge costs and breakage likelihood but we expect the current variable annuity asset level should still be flat to slightly positive versus the level at year-end 2017 given much higher interest rates (UST 10-year at 2.86% versus 2.43% at the end of December 2017). We expect BHF will update its sensitivity tables versus equity and interest rate in its 10-K filing at the latest. What we liked. 1) Annuity sales were up 32.7% year-over-year and on 26.3% on a linked quarter basis. 2) Variable annuity asset level increased to CTE95 plus $2.6 billion, closer to its goal of CTE95 plus $3.0 billion.””
A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Brighthouse Financial from a “neutral” rating to an “underweight” rating and set a $61.00 target price on the stock. in a research note on Tuesday, January 2nd. Goldman Sachs Group initiated coverage on shares of Brighthouse Financial in a research note on Wednesday, October 18th. They set a “neutral” rating and a $63.00 price target on the stock. Zacks Investment Research raised shares of Brighthouse Financial from a “sell” rating to a “hold” rating and set a $68.00 price target on the stock in a research note on Thursday, January 4th. BidaskClub raised shares of Brighthouse Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. Finally, Deutsche Bank initiated coverage on shares of Brighthouse Financial in a research note on Tuesday, January 2nd. They set a “buy” rating and a $70.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $66.53.
Brighthouse Financial (NASDAQ:BHF) last announced its earnings results on Monday, February 12th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.73). The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $2.01 billion. The company’s quarterly revenue was up 240.0% compared to the same quarter last year. analysts anticipate that Brighthouse Financial will post 9.7 EPS for the current fiscal year.
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Brighthouse Financial Company Profile
Brighthouse Financial, Inc is a provider of life insurance and annuity products in the United States. The Company offers a range of products and services, which include variable, fixed, index-linked and income annuities, as well as variable, universal, term and whole life products. These products and services are marketed through various third party retail distribution channels in the United States.
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