Insurance and financial services giant Prudential Financial, Inc. ( PRU ) on Thursday saw its price target cut by analysts at Morgan Stanley.
The firm maintained its "Overweight" rating on PRU but lowered its price target from $74 to $67. That new target suggests a 38% upside to the stock's Wednesday closing price of $48.38.
Prudential shares, which have fallen more than 17% year-to-date, were mostly flat in premarket trading Thursday.
The Bottom Line
Shares of Prudential ( PRU ) have a 2.38% dividend yield, based on last night's closing stock price of $48.38. The stock has technical support in the $45-$46 price area. If the shares can firm up, we see overhead resistance around the $50-$53 price levels.
Prudential Financial, Inc. ( PRU ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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