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UPDATE: Piper Jaffray Starts Prudential Financial (PRU) at Overweight; Named Top Pick

June 1, 2015 4:35 PM EDT
Get Alerts PRU Hot Sheet
Price: $117.40 +0.32%

Rating Summary:
    3 Buy, 19 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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(Updated - June 2, 2015 7:09 AM EDT)

Piper Jaffray initiated coverage on Prudential Financial (NYSE: PRU) with an Overweight rating and a price target of $106.00 and named the stock its Top Pick in the sector.

Analyst John Nadel commented, "While the performance of PRU shares has been disappointing, the operating performance of the company certainly hasn't been, with a core ROE just under 15% over the past two years and our expectation that ROE can remain above 13% over the next few years. Though risks related to yet-undefined capital standards as a SIFI insurer are very real, shares are trading at 8.2x our 2016E EPS and ~1.25x BV - well discounted relative to the company's ROE and operating performance, in our view."

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 $84.61 yesterday.



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