Wells Fargo analyst Elyse Greenspan raised the firm’s price target on Prudential (PRU) to $117 from $116 and keeps an Equal Weight rating on the shares. The firm says Q3 results were decent, and messaging around its business momentum/mix shift remains the same, with continuation of move into more capital light products and continued momentum/demand in fixed and RILA products. Prismic commentary was positive, and it seems like a back book deal in Japan is imminent, while management noted that it has a strong pipeline of both third party and flow deals, Wells adds.
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Read More on PRU:
- Prudential price target raised to $119 from $118 at Barclays
- Prudential Financial Reports Positive Q3 2024 Earnings
- Prudential Financial Reports Strong Q3 2024 Turnaround
- Prudential reports Q3 adjusted EPS $3.48, consensus $3.48
- PRU Earnings Report this Week: Is It a Buy, Ahead of Earnings?
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