Wells Fargo downgraded Principal Financial (PFG) to Underweight from Equal Weight with a price target of $75, down from $84. The firm expects pressures on the company’s organic growth to persist and have an ensuing negative impact on fee income. In addition, Principal Financial continues to trade a “healthy premium” to Voya, making for a full valuation, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PFG:
- Principal Financial downgraded to Underweight from Equal Weight at Morgan Stanley
- Principal Financial appoints Lisa Coulson as CHRO
- Principal Financial price target raised to $91 from $87 at RBC Capital
- Principal Financial Announces Leadership Transition and Growth
- Principal Financial price target raised to $98 from $85 at Evercore ISI