FBR Capital Raises Estimates on Prudential (PRU) Following Investor Day; Capital Management on Track

FBR Capital maintains an 'Outperform/Top Pick' rating on Prudential Financial (NYSE: PRU) and $76 price target.

FBR analyst said, "The Prudential investor day on June 9, 2011 confirmed to us our favorable view of the company’s diversified business model, which appears capable of generating 12% to 13% ROE. Management also provided some clarity that potential SIFI inclusion should not materially interrupt Prudential’s capital management process. We have raised 2011E and 2012E EPS to $6.55 (from $6.50) and $7.75 (from $7.50), respectively, to reflect the recently announced $1.5 billion share repurchase, offset marginally by lower market assumptions."

For more ratings news on Prudential Financial click here and for the rating history of Prudential Financial click here.

Shares of Prudential Financial closed at $60.13 yesterday.

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