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UPDATE: Citigroup Initiates Principal Financial Group at Neutral on Macro Headwinds

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Citigroup initiated coverage on Principal Financial Group Inc (NYSE: PFG) with a Neutral rating and a $30.00 price target.

Citigroup noted, "In our view, PFG has an attractive business mix given its leadership position in the U.S. 401(k) market and growing international and asset management segments. Over time, this should enable it to generate an above-average ROE and superior cash flow. However, PFG faces near-term margin headwinds in its U.S. business, and we believe it needs to deliver improved results to drive a higher valuation."

Principal Financial Group closed at $29.20 on Wednesday.

Latest Ratings for PFG

DateFirmActionFromTo
Dec 2014Keefe Bruyette & WoodsMaintainsOutperform
Dec 2014Atlantic EquitiesInitiates Coverage onOverweight
Oct 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for PFG
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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