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UPDATE: Deutsche Bank Downgrades Prudential Financial on Valuation

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In a report published Friday, Deutsche Bank analyst Yaron Kinar downgraded the rating on Prudential Financial (NYSE: PRU) from Buy to Hold, but reiterated the $96.00 price target.

In the report, Deutsche Bank noted, “The downgrade is a valuation call. PRU currently trades at 1.5x P/B ex AOCI (adj, for f/x), a merited premium to the group. While we continue to see upside (our TP is $96) it is no longer enough to continue to recommend the name. Although PRU would benefit from further S&P appreciation and rising rates, its rate sensitivity is lower than LNC's or MET's.”

Prudential Financial closed on Thursday at $89.05.

Latest Ratings for PRU

DateFirmActionFromTo
Jun 2019MaintainsBuy
May 2019DowngradesBuyNeutral
May 2019MaintainsBuyBuy

View More Analyst Ratings for PRU
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Yaron KinarAnalyst Color Downgrades Analyst Ratings

 

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