Analyst Bob Huang of Morgan Stanley maintained a Hold rating on Prudential Financial (PRU – Research Report), retaining the price target of $137.00.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Bob Huang has given his Hold rating due to a combination of factors influencing Prudential Financial’s performance. The international segment showed resilience with the Life Planner and Gibraltar businesses performing above expectations despite foreign exchange challenges and unfavorable expenses. This was partly offset by a favorable net investment spread, resulting in earnings that were slightly better than adjusted expectations.
On the other hand, the retirement strategies segment underperformed, with both institutional and individual segments reporting weaker than anticipated results. Additionally, the group insurance segment’s core earnings were slightly below expectations due to high expenses. The overall outlook hinges on how well the company can manage these pressures and align with its management’s guidance in the current macroeconomic climate.
In another report released today, Barclays also maintained a Hold rating on the stock with a $134.00 price target.