{"id":53101,"date":"2023-08-25T20:05:45","date_gmt":"2023-08-26T00:05:45","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/raymond-james-sees-potential-38-upside-in-prudential-financial-shares\/"},"modified":"2023-08-25T20:05:47","modified_gmt":"2023-08-26T00:05:47","slug":"raymond-james-sees-potential-38-upside-in-prudential-financial-shares","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=53101","title":{"rendered":"Raymond James sees potential 38% upside in Prudential Financial shares"},"content":{"rendered":"
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\u00a9 Reuters. Raymond James sees potential 38% upside in Prudential Financial (PRU) shares<\/span>
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Raymond James upgraded Prudential Financial (NYSE:) to Strong Buy from Market Perform, with a price target of $125 per share in a note Thursday. The new price target represents a potential 38% upside in the stock.<\/p>\n

Analysts told investors in a note that they expect PRU will re-rate as it “proves out its transformation strategy” and reflects the potential for increased share repurchases as a catalyst.<\/p>\n

“We see considerable margin for error, as PRU’s catalysts appear largely favorable, significant de-risking and reserving recently took place, and investors have been disappointed for a lengthy period,” the analysts wrote.<\/p>\n

“We think PRU’s 2024 repurchases could exceed $2 billion, versus our prior $1.05 billion expectation, given its favorable capital position versus its target buffer.”<\/p>\n

Other positives they pointed to include the potential to sell even more non-core operations and less appetite for M&A, PRU’s core businesses doing well, and the variable annuity segment being de-risked via the Fortitude deal.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Raymond James sees potential 38% upside in Prudential Financial (PRU) shares Raymond James upgraded Prudential Financial (NYSE:) to Strong Buy from Market Perform, with a price target of $125 per share in a note Thursday. The new price target represents a potential 38% upside in the stock. Analysts told investors in a note […]<\/p>\n","protected":false},"author":1,"featured_media":53102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-53101","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nRaymond James sees potential 38% upside in Prudential Financial shares | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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