Tuesday, April 10, 2012

PRU: Wells Fargo Ups to “Buy”; $64 Target

Shares of Prudential Financial (PRU) are up $1.38, or 3%, at $50.46 today after Wells Fargo (WFC) analyst John Hall raised his rating on the stock to “Outperform” from “Market Perform” with a price target of $64. Pru has weathered the financial crisis “quite well,” Hall writes, having gotten through the crisis without selling core assets and without taking government aid, instead taking on debt and selling equity. Pru looks much as it did before the crisis, he writes, with a focus on international life insurance, group insurance, and asset management. Pru has more capital than it needs, which the firm can put to work through acquisitions or by growing existing businesses.

No comments:

Post a Comment