Barclays has revised its price target for Corebridge Financial's shares (CRBG, Financial), lowering it to $36 from the previous $37. Despite the adjustment, the bank maintains an Overweight rating on the insurance company's stock. This update comes as part of their first-quarter earnings preview for the broader insurance sector.
The financial institution highlights the industry's current challenges, especially in life earnings, but notes favorability toward segments like group benefits and excess capital, alongside what it describes as attractive cash flows. Barclays emphasizes that the sector is currently managing through a landscape of uncertainty.
