UBS Maintains a 'Buy' on Prudential Financial (PRU); Still Expecting Growth Off Lower EPS Base

UBS maintains a 'Buy' on Prudential Financial (NYSE: PRU) price target lowered from $77 to $73.

Analyst, Andrew Kligerman, said, "PRU reported disappointing 1Q12 op EPS of $1.56, or ~$1.34 ex PRU-identified unusuals...Despite reduction in current run-rate earnings, we still expect PRU to generate strong, above-peer-EPS growth off this reduced base, as the three key levers driving expected EPS increases remain intact: a) growth of high return International, Asset Management and Individual Annuities businesses, b) capital management, and c) integration of Star/Edison acquisition."

UBS cuts FY12 EPS estimate from $6.99 to $6.54 and FY13 from $8.39 to $7.78.

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 $54.81 yesterday.

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