Barclays lowered the firm’s price target on Prudential (PRU) to $110 from $119 and keeps an Equal Weight rating on the shares. The firm adjusted targets in the insurance group as part of a Q1 preview. Premium growth and broker organic growth “are likely to remain sluggish,” the analyst tells investors in a research note. However, Barclays sees solid margins and strong capital deployment still contributing to reported book value growth in Q1.
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