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Fly News Breaks for April 7, 2016
AEL
Apr 7, 2016 | 07:25 EDT
SunTrust believes that the decline in American Equity's stock in reaction to the fiduciary rule change for indexed annuities was overdone. The firm thinks that the change will be "a moderate burden" for American Equity and its peers, not "an industry game changer," as indicated by the stock's response. The firm says that American Equity's stock is "particularly attractive" following its decline. It keeps a $25 price target and Buy rating on the shares.
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