BUZZ-Brighthouse Financial rises after Barclays upgrades to 'overweight'

** Shares of life insurer Brighthouse Financial BHF.O climb 2.9% to $60 premarket

** Barclays upgrades BHF to "overweight" from "equal weight"; raises PT to $85 from $52, a 45.8% upside to the stock's last close

** Reuters reported on Tuesday that BHF was exploring options that included a potential sale

** Brokerage says the development does not come as a complete surprise, given BHF has struggled to meet its cash flow projections ever since it was spun off from MetLife MET.N in 2017

** About a 45% further upside potential to the stock's current levels remains, despite the 14% jump on Tuesday - Barclays

** Adds there could be a bidding war for BHF in the event of a sale due to the abundance of interest and competitiveness around acquiring annuity companies

** BHF stock fell 9.2% in 2024