Jefferies downgraded Prudential (PRU) to Hold from Buy with a price target of $98, down from $124. The firm cites Japan uncertainty for the downgrade after the company announced an extension of its voluntary sales suspension for Prudential of Japan for an incremental 180 days. Prudential now expects a $525M-$575M negative impact on 2026 earnings, which is up from the prior $300M-$350M estimate, the analyst tells investors in a research note. Further, Prudential disclosed a $400M-$450M negative impact on 2027 earnings, adds Jefferies.
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