BUZZ-Ethos Technologies rises as IPO research quiet period ends

Reuters
02/23
BUZZ-Ethos Technologies rises as IPO research quiet period ends

** Insurance platform Ethos Technologies' LIFE.O shares jump 8.3% to $11.70 as IPO research quiet period ends

** J.P. Morgan, William Blair, BofA Global Research, Deutsche Bank, Citizens, Citigroup, and Barclays initiate coverage on LIFE

** Analysts say the stock is compelling at its current valuation, and see room for LIFE to grow

** "Ethos carries a first-mover advantage as the first major online life insurance provider. We think Ethos can gain share in the $12.6 billion life TAM for many years given it has just 2.5% of the market, and with the vast majority of such policies still sold through agents" - BofA

** LIFE went public in New York last month after selling 10.5 million shares in IPO priced at $19 apiece

** Goldman Sachs and J.P. Morgan led a nine-member underwriting syndicate for Ethos IPO

** As of last close, LIFE shares down 43.2% since January debut

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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