Market Overview

UPDATE: KBW Upgrades Primerica

Share:
Related PRI
FTC Chair Edith Ramirez, Notable MLM Opponent, To Step Down Next Month
Watch These 7 Huge Put Purchases In Wednesday Trade

In a note dated February 10, 2014, KBW upgraded Primerica (NYSE: PRI) from Market Perform to Outperform and raised the price target from $47 to $51.

KBW's Jeffery Schuman noted three primary reasons behind the upgrade:

  1. Litigation/arbitration agreement - On January 17, Primerica announced that it had entered into a memorandum of understanding to potentially resolve pending arbitration and litigation related to certain participants in the Florida Retirement System.
  2. Sales force Momentum - After a period of contraction, the licensed sales force grew 1% in 2012, accelerating to 4% in 2013.
  3. Valuation Upside -With the improved legal outlook and more confidence about sales force growth, we're now discounting a 9% cost of equity more consistent with Primerica's low risk/high return profile.

At last check, Primerica is trading at $43.98 up almost 7 percent for Tuesday.

Latest Ratings for PRI

DateFirmActionFromTo
Apr 2017William BlairDowngradesOutperformMarket Perform
Jan 2017CitigroupInitiates Coverage OnNeutral
Sep 2016Wells FargoInitiates Coverage onMarket Perform

View More Analyst Ratings for PRI
View the Latest Analyst Ratings

Posted-In: KBWAnalyst Color News Upgrades Price Target Analyst Ratings

 

Related Articles (PRI)

View Comments and Join the Discussion!