BMO Capital analyst Jack Matten initiated coverage of Prudential (PRU) with an Underperform rating and $101 price target Prudential’s free cash flow profile screens less attractive versus peers, including lower free cash flow conversion and a higher volatility track record, the analyst tells investors in a research note. The firm says that while the company’s management has shifted its business mix toward more capital-light lines of business, this will have limited near-term benefits on its free cash flow profile. BMO sees both upside and downside risks to Prudential’s free cash flow generation.
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