Prudential's 3Q EPS Beats Out Estimates Significantly

Sterne Agee has published a research report on Prudential Financial, Inc.

following 3Q results that impressed analysts by exceeding estimates. In the report, Sterne Agee writes "PRU reported Op. EPS of $2.12 vs. our $1.48 and consensus $1.45. Results included $0.73 of net positive items (mostly DAC related), with Core EPS at $1.38, below our Core estimate of $1.45. (We had $0.03 of positive items in Ind. Life.) In aggregate, the operating businesses beat us by a net $0.06 in the quarter ex. items, while Corporate missed us by ($0.12)." Sterne Agee maintains its Buy rating and $65 price target. Prudential Financial closed yesterday at $54.11.