** Shares of life insurer Brighthouse Financial BHF.O climb 2.9% to $60 premarket
** Barclays upgrades BHF to "overweight" from "equal weight"; raises PT to $85 from $52, a 45.8% upside to the stock's last close
** Reuters reported on Tuesday that BHF was exploring options that included a potential sale
** Brokerage says the development does not come as a complete surprise, given BHF has struggled to meet its cash flow projections ever since it was spun off from MetLife MET.N in 2017
** About a 45% further upside potential to the stock's current levels remains, despite the 14% jump on Tuesday - Barclays
** Adds there could be a bidding war for BHF in the event of a sale due to the abundance of interest and competitiveness around acquiring annuity companies
** BHF stock fell 9.2% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.