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AXA Equitable shares get boost from Jefferies, cites retirement strategy

EditorEmilio Ghigini
Published 25/03/2024, 11:37 pm
© Reuters.
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On Monday, the financial services firm AXA Equitable Holdings Inc (NYSE:EQH) saw its price target increased by an analyst at Jefferies. The new price target is set at $45.00, up from the previous $42.00, while the firm's Buy rating on the stock remains unchanged. This adjustment reflects a potential upside of approximately 24% from the stock's current position.

The price target revision follows a series of investor meetings in Europe last week with the CEO and CFO of AXA Equitable Holdings. During these discussions, the main topics revolved around the company's future strategy, particularly its focus on the U.S. Retirement sector and factors that are expected to drive cash flow growth for the company.

According to the analyst, the attention during the meetings leaned more towards AXA Equitable's strategy for the U.S. Retirement market rather than its Protection Solutions and Commercial Real Estate (CRE) businesses. This shift in focus signals a positive change in sentiment towards the company's growth prospects.

Jefferies highlighted AXA Equitable's unique position in the U.S. Retirement market, citing this as a key reason for the firm's favorable view on the stock. The analyst also pointed to the company's projected free cash flow (FCF) growth, which is anticipated to outpace that of its peers, alongside an attractive valuation as reasons for the raised price target.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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