FBR Capital Downgrades Prudential Financial (PRU) to Market Perform
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
- UPDATE: SunTrust Robinson Humphrey Downgrades Simon Property Group (SPG) to Hold
- UPDATE: SunTrust Robinson Humphrey Downgrades Corporate Office Properties Trust (OFC) to Hold
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!