JPMorgan lowered the firm’s price target on Prudential (PRU) to $126 from $128 and keeps a Neutral rating on the shares. The firm shifted its view on life insurance stocks from Positive to Neutral, saying risk/rewards “have become less compelling given an incrementally downbeat outlook for business fundamentals.” It forecasts life insurers will report “weak” earnings and mixed business trends in Q1. JPMorgan reduced estimates as part of a Q1 earnings preview.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRU: