UBS Maintains a 'Neutral' on Principal Financial Group (PFG); Lowers Estimates & Price Target
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Price: $37.22 -0.11%
Rating Summary:
2 Buy, 7 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 7 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PFG Now!
UBS maintains a 'Neutral' on Principal Financial Group (NYSE: PFG) price target lowered from $33 to $24.
UBS analyst says, "PFG significantly exposed to a potential economic downturn - As discussed in our Aug 12th sector note (“More Defensively Positioned This Time”), relative to peers, PFG has high sensitivity to deterioration in the economy—50%+ of 2012E op EPS from segments (e.g., FSA, Principal Funds, Specialty Benefits, PGI) sensitive to GDP and/or S&P500 changes. In addition, PFG has a relatively high-risk investment portfolio, with above-peer-average CMBS, commercial mortgage loan, and peripheral Eurozone corporate exposures."
"Reducing ests, largely on recent equity market and interest rate pressures (FY11 EPS estimate from $3.01 to $2.95 and FY12 from $3.46 to $3.30)
For more ratings news on Principal Financial Group click here and for the rating history of Principal Financial Group click here.
Shares of Principal Financial Group closed at $22.32 yesterday, with a 52 week range of $21.19-$34.70.
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UBS analyst says, "PFG significantly exposed to a potential economic downturn - As discussed in our Aug 12th sector note (“More Defensively Positioned This Time”), relative to peers, PFG has high sensitivity to deterioration in the economy—50%+ of 2012E op EPS from segments (e.g., FSA, Principal Funds, Specialty Benefits, PGI) sensitive to GDP and/or S&P500 changes. In addition, PFG has a relatively high-risk investment portfolio, with above-peer-average CMBS, commercial mortgage loan, and peripheral Eurozone corporate exposures."
"Reducing ests, largely on recent equity market and interest rate pressures (FY11 EPS estimate from $3.01 to $2.95 and FY12 from $3.46 to $3.30)
For more ratings news on Principal Financial Group click here and for the rating history of Principal Financial Group click here.
Shares of Principal Financial Group closed at $22.32 yesterday, with a 52 week range of $21.19-$34.70.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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