FBR Capital Downgrades Prudential Financial (PRU) to Market Perform
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
FBR Capital downgraded Prudential Financial (NYSE: PRU) from Outperform to Market Perform and maintains a price target of $86.00.
Analyst Randy Binner commented, "PRU shares are up 12.5% in the last three months, in line with peers. However, PRU has traded back to its median three-year forward P/E ratio and is just below our $86 price target. We note the recent Tokyo investor day was favorable on the growth outlook in Japan and yen risk management; however, valuation at 8.3 2017E EPS and P/BV of 1.23x for a 12%–13% forward ROE are all relatively in line with peers."
Shares of Prudential Financial closed at $84.51 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades MGM Growth Properties (MGP) to Hold
- UPDATE: Seaport Global Securities Starts Owens Corning (OC) at Buy
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!