Deutsche Bank Downgrades Prudential Financial (PRU) to Hold

November 15, 2013 6:54 AM EST
Get Alerts PRU Hot Sheet
Price: $105.23 --0%

Rating Summary:
    14 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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Deutsche Bank downgraded Prudential Financial (NYSE: PRU) from Buy to Hold on valuation. The firm's price target remains $96.

"The downgrade is a valuation call," analyst Yaron Kinar states. "PRU currently trades at 1.5x P/B ex AOCI (adj, for f/x), a merited premium to the group. While we continue to see upside (our TP is $96) it is no longer enough to continue to recommend the name. Although PRU would benefit from further S&P appreciation and rising rates, its rate sensitivity is lower than LNC's or MET's."

For an analyst ratings summary and ratings history on Prudential Financial click here. For more ratings news on Prudential Financial click here.

Shares of Prudential Financial closed at $89.05 yesterday.

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