TD Cowen analyst Andrew Kligerman upgrades $Corebridge Financial (CRBG.US)$ to a buy rating, and adjusts the target price from $23 to $35.
According to TipRanks data, the analyst has a success rate of 73.8% and a total average return of 18.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Corebridge Financial (CRBG.US)$'s main analysts recently are as follows:
The setup appears robust for the insurance sector, which includes both life and property and casualty segments. In the life insurance area, there seems to be a balance between the positive influence of favorable equity markets and the negative impact of falling interest rates. The expectation is for catastrophes to be moderately higher than average, influenced by several significant events, including three major storms in the U.S. As for the property and casualty insurers, it is believed that underlying margins should stay strong and that the market will react positively to pricing updates, even with some concerns about decelerating pricing in the property segment.
The life insurance sector presents a varied outlook, with Corebridge standing out as a top selection. Although the industry showcases robust capital positions and valuations that appear fair, anticipated moderation in growth drivers suggests that a discerning approach will be necessary for investors to succeed in the life insurance market.
Note:
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