Wells Fargo lowered the firm’s price target on Prudential (PRU) to $113 from $116 and keeps an Equal Weight rating on the shares. The firm notes Prudential previewed its assumption review, VII, other related revenue, and AUM within PGIM. Numbers go down on the assumption review, but are slightly offset by better-than-expected alt income and other related revenue, Wells adds. The firm expects shares to trade down.
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