Analyst Predicts Completion Of American Equity’s $4.3B Acquisition At Current Offer Price

Truist Securities analyst Mark Hughes downgraded American Equity Investment Life Holding Co (NYSE:AEL) to Hold from Buy at an increased price target of $55 (from $49).

The analyst expects AEL’s acquisition by Brookfield Reinsurance Ltd (NYSE:BNRE) to be completed at the current offer price and assumes the unlikely emergence of another buyer.