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UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on American Equity Investment Life Holdings

Related AEL featured highlights: Kelly Services, M/I Homes, General Motors, American Equity Investment Life Holding and Synnex
Benzinga's Top Upgrades, Downgrades For April 26, 2017

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on American Equity Investment Life Holdings (NYSE: AEL), but slightly lowered its price target from $13.50 to $13.00.

Jefferies noted, “AEL reported $0.34 of operating income per diluted share, below both the Street and JEFe. The majority of the miss to our estimate was due to unanticipated legal reserves and higher than expected DAC unlocking. Spread compression remains the primary headwind for the company.”

American Equity Investment Life Holding closed on Tuesday at $11.27.

Latest Ratings for AEL

Jul 2017Evercore ISI GroupDowngradesOutperformIn-Line
Apr 2017Keefe Bruyette & WoodsInitiates Coverage OnMarket Perform
Jan 2017CitigroupInitiates Coverage OnNeutral

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