Principal Financial price target raised to $90 from $85 at Piper Sandler

Piper Sandler analyst John Barnidge raised the firm’s price target on Principal Financial to $90 from $85 and keeps a Neutral rating on the shares ahead of the Q1 report. There is near-term volatility to life insurance company earnings from variable investment income headwinds and commentary around spread income peaking, but valuations “are generally not screening as overly optimistic,” the analyst tells investors in a research note.