Prudential Financial Stock Rating Upgraded by Zacks (PRU)
Prudential Financial (NYSE:PRU) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Friday, AnalystRatings.NET reports. The firm currently has a $95.00 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 18.94% from the stock’s previous close.
Zacks‘ analyst wrote, “We are upgrading our recommendation of Prudential Financial Inc. to Outperform from Neutral reflecting optimism in the company’s growth prospects. We expect the company’s results will benefit from a shift towards higher return businesses, organic growth, capital deployment, and accretion from recent transactions – Hartford’s life block, GM pension block and Star/Edison. Prudential generates a substantial portion of its earnings from international markets primarily Japan, where the company should continue earning high returns given its strong and favorable competitive position. The company’s investment portfolio is also performing better. Investment related losses have narrowed and commercial mortgage backed securities have also yielded net unrealized gain. A strong balance sheet and investment grade ratings from rating agencies are other positives. “
Shares of Prudential Financial (NYSE:PRU) traded up 1.01% on Friday, hitting $79.87. The stock had a trading volume of 1,407,041 shares. Prudential Financial has a one year low of $48.17 and a one year high of $83.67. The stock has a 50-day moving average of $78.13 and a 200-day moving average of $71.61. The company’s market cap is $37.140 billion.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 7th. The company reported $2.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.98 by $0.32. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $12.23 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that Prudential Financial will post $8.74 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Argus reiterated a “buy” rating on shares of Prudential Financial in a research note to investors on Monday, September 23rd. They now have a $88.00 price target on the stock. Separately, analysts at Sandler O’Neill cut their price target on shares of Prudential Financial from $86.00 to $84.00 in a research note to investors on Sunday, September 22nd. They now have a “hold” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Prudential Financial from a “conviction-buy” rating to a “buy” rating in a research note to investors on Friday, September 20th. They now have a $95.00 price target on the stock, up previously from $87.00. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $85.23.
Prudential Financial, Inc (NYSE:PRU) is a financial services company.
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