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UPDATE: KBW Upgrades Primerica

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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
Mar 2019MaintainsOutperformOutperform
Jan 2019Initiates Coverage OnOutperform
Sep 2018DowngradesNeutralSell

View More Analyst Ratings for PRI
View the Latest Analyst Ratings

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

 

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