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Shares of Brighthouse Financial Inc (NASDAQ:BHF) remained highly volatile in early trading on Monday.
The stock has lost 23% year to date on weaker capital generation and uncertainties around the ongoing free cash flow trends, according to Keefe, Bruyette & Woods.
The Brighthouse Financial Analyst: Ryan Krueger upgraded the rating for Brighthouse Financial from Underperform to Market Perform, while trimming the price target from $48 to $47.
The Brighthouse Financial Thesis: Although there are no major catalysts for the stock ahead, the company is making gradual progress in improving its business mix, Krueger said in the upgrade note.
Check out other analyst stock ratings.
Brighthouse Financial has also "strengthened legacy variable annuity hedging in recent years," the analyst wrote. The company's capital position remains solid, with a risk-based capital ratio of 415%-435% versus its target of 400%+, "and $1.3b of holdco liquidity relative to $250m of annual fixed charges," he added.
Referring to investor concerns around Brighthouse Financial's free cash flows, Krueger said that the stock is "now trading at a more reasonable 2025E free cash flow yield of 13%."
BHF Price Action: Shares of Brighthouse Financial had risen by 1.5% to $41.65 at the time of publication on Monday.
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Posted In: BHF
