Citi Downgrades Prudential Financial (PRU) to Neutral

Citi analyst Suneet Kamath downgraded Prudential Financial (NYSE: PRU) from Buy to Neutral with a price target of $94.00 (from $112.00).

The analyst comments "Our prior positive thesis on PRU assumed its high-quality business mix should translate into superior EPS growth / ROE performance. While we still feel this overall thesis could make sense over the long term, we argue this story likely won’t be evident in PRU’s near-term results (i.e., muted EPS growth over at least the next year or so). In other words, our thesis has been interrupted."

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 $88.56 yesterday.

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