Equitable Holdings (NYSE:EQH) is one of the best financial pure plays under $100 according to Hedge Funds.
On December 16, Mizuho Securities analyst Yaron Kinar initiated his coverage on Equitable Holdings with a bullish rating. The analyst gave a Buy call with a price target of $66 for the stock, implying more than 37% upside from the current level.
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Kinar’s bullish sentiment results from his strong preference for life insurance businesses over other areas in the market, such as insurance brokerage and property & casualty insurance. Equitable Holdings has a prominent presence in the life insurance space through a highly comprehensive suite of offerings. This includes products such as Variable Universal Life, Indexed Universal Life, Term Life insurance, and Annuities. Kinar sees his favorable outlook for the life insurance segment to resonate with Equitable Holdings, thus leading to the upside.
Equitable Holdings received coverage from 8 analysts as of the December 30 close. 6 analysts assigned Buy ratings, and 2 gave Hold ratings. According to consensus estimates, the median 1-year price target is $63, implying almost 31% upside at the current market price.
Equitable Holdings is one of the leading financial services firms in the United States. The company delivers retirement plans, wealth management, insurance, and protection services, offering a diverse array of products. Through its multinational subsidiary, AllianceBernstein, they also operate within the asset management industry.
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This article is originally published at Insider Monkey.
