Prudential price target lowered to $128 from $136 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Prudential (PRU) to $128 from $136 and keeps an Equal Weight rating on the shares. Life insurers are in a better operating environment, which has “been unrecognized,” says the analyst, who is upgrading the firm’s industry view to Attractive. Life insurers generally are in a much better capital position, have more favorable quality product offerings, and have stronger earnings power today than before the 2008 financial crisis, the analyst tells investors.