Prudential upgraded to In Line from Underperform at Evercore ISI

Evercore ISI analyst Thomas Gallagher upgraded Prudential (PRU) to In Line from Underperform with a price target of $140, up from $117. The firm says the stock has lagged the broader sector recovery so far this year. While Evercore has been somewhat concerned that the next Prismic deal Prudential announces will be a more defensively oriented Japan internal risk transfer deal, it now thinks that most investors are prepared for that and have factored this into valuation.