JP Morgan Lowers EPS Estimates on Prudent Financial

A report from J.P. Morgan lowers its FY11/12/13 EPS estimates to $6.20/$6.95/$7.93 on Prudent Financial (NYSE: PRU). It also reiterates its Overweight rating and $66 price target.

The report states, “Third quarter results affirm our positive outlook on PRU. While reported result were noisy, operating trends were generally healthy. We expect strong organic growth and accretion from the Star/Edison deal to enable PRU to generate above-average EPS growth and steady ROE expansion”.

PRU closed yesterday at $53.67.