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Fly News Breaks for April 30, 2019
Apr 30, 2019 | 08:15 EDT
As previously reported, Sandler O'Neill analyst John Barnidge downgraded American Equity (AEL) to Hold from Buy as he sees greater downside risk than upside potential for shares if the company provides any commentary with Q1 earnings that its process has ended with no sale about one year after the company first acknowledged market rumors of a transaction. In such a case, Barnidge thinks investors would look to the valuation multiples of Athene Holding (ATH) and FGL Holdings (FG) as proxies, he said.
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