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Equitable Holdings shares surged 5.6% to $55.2 after increasing its stake in AllianceBernstein to 68.6%. UBS upgraded the stock from "neutral" to "buy," raising the price target from $49 to $77, citing growth drivers like annuity sales and de-risking strategies. EQH shares have risen 17.3% this year, outperforming the S&P 500, which is down 4.2%.
Shares of Equitable Holdings rose 5.6% to $55.2 after increasing its stake in AllianceBernstein to 68.6%. UBS upgraded the stock to "buy" from "neutral," raising the price target to $77, citing strong annuity sales and de-risking strategies as key growth drivers. Year-to-date, EQH stock is up approximately 17.3%, outperforming the S&P 500's 4.2% decline.
UBS has upgraded Equitable Holdings Inc (NYSE: EQH) to a Buy rating with a price target of $49, citing strong growth potential and strategic moves. The company is expected to see continued annual sales growth in the RILA market and benefits from an increased stake in AllianceBernstein. Despite a negative outlook from S&P Global due to financial leverage, analysts maintain a bullish consensus on the stock, with price targets ranging from $49 to $72.
Wells Fargo has initiated coverage of Independence Realty Trust (IRT) with an Overweight recommendation, projecting a 7.01% upside to an average price target of $22.40 per share. The company anticipates a 122.37% increase in annual revenue, reaching $1.424 billion, with a non-GAAP EPS of 0.48. Institutional ownership has risen, with 780 funds reporting positions, reflecting a bullish sentiment indicated by a put/call ratio of 0.79.
Foreign investors are rapidly exiting India's stock market, pulling nearly $29 billion since October, as high inflation and interest rates have led to a 13% decline in Indian stocks. In contrast, China's market is attracting attention with a 36% rise in the Hang Seng Index, driven by expectations of economic recovery and AI investments. While some asset managers remain optimistic about India, caution is growing as earnings slow and valuations remain high compared to China.
Société Générale is pursuing a strategic turnaround by 2026, aiming for a CET 1 ratio of 13%, a cost-to-income ratio below 60%, and a RoTE of 9-10%. Following a strong Q3 2024 performance, with net income soaring to €1.367 billion, analysts are increasingly optimistic about the bank's recovery and its ability to meet these targets. CEO Slawomir Krupa emphasizes a focus on capital build-up and profitability improvement amid ongoing restructuring efforts.
The Longevity Science Foundation (LSF) is urging cryptocurrency investors to make year-end donations to support groundbreaking research in human longevity, emphasizing the tax benefits of donating appreciated assets. Under the leadership of Joshua Herring, LSF aims to advance healthcare through AI-driven diagnostics and personalized treatments, with a current goal to raise $250,000 for Female Fertility & Longevity Research. Recent funding has been directed towards studies at the University of Oxford, focusing on dietary interventions to combat cardiac aging.
AllianceBernstein is set to sue the Swiss government for $225 million over its management of Credit Suisse's collapse, following the government-orchestrated takeover by UBS. This marks the first instance of a large institutional investor joining the lawsuit, which was filed in New York in June. AllianceBernstein will be represented by the law firm Quinn Emanuel Urquhart & Sullivan.
AllianceBernstein is set to sue Switzerland for $225 million following the government's decision to wipe out $17 billion in debt during the takeover of Credit Suisse by UBS. The asset manager, which oversees approximately $800 billion in assets, will join a lawsuit initiated by law firm Quinn Emanuel Urquhart & Sullivan on behalf of Credit Suisse bondholders.
AllianceBernstein is suing the Swiss Confederation for $225 million over the cancellation of $17 billion in AT1 bonds during UBS's takeover of Credit Suisse. The lawsuit, which will increase the total claim to $375 million, alleges unlawful interference with investors' property rights. The Swiss government is seeking to dismiss the case, citing sovereign immunity and arguing that it should be heard in a Swiss court.
AllianceBernstein Holding L.P.
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