BMO Capital analyst Jack Matten initiated coverage of Principal Financial (PFG) with a Market Perform rating and $93 price target The company has executed on a business mix transformation and has a solid cash flow profile, but it faces some secular challenges including declining fee rates in its retirement and asset management markets, the analyst tells investors in a research note. BMO also believes Principal is subject to macro sensitivities, including elevated equity market sensitivity and currency impacts to earnings within its international pension operations.
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Read More on PFG:
- Principal Financial price target lowered to $69 from $75 at Wells Fargo
- Principal Financial price target lowered to $90 from $93 at Keefe Bruyette
- Principal Financial upgraded to Overweight from Neutral at JPMorgan
- Piper upgrades ‘contrarian idea’ Principal Financial to Overweight
- Principal Financial upgraded to Overweight from Neutral at Piper Sandler
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