FBR Capital Downgrades Prudential Financial (PRU) to Market Perform

October 18, 2016 7:24 AM EDT
Get Alerts PRU Hot Sheet
Price: $105.59 +0.79%

Rating Summary:
    14 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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."

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 $84.51 yesterday.

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