Wolfe Downgrades Equitable Holdings Stock
Wolfe Research has downgraded Equitable Holdings Inc. from Outperform to Peerperform, citing increased uncertainty surrounding the company’s proposed merger with Corebridge Financial (CRBG). The downgrade comes ahead of a shareholder vote scheduled for July 30, with analyst Tracy Benguigui expressing reduced confidence that a competing bid from an alternative asset manager will emerge. As a…