Principal Financial Group Gets An Upgrade: A Look Into Its Investment Portfolio's Strength
Portfolio Pulse from Lekha Gupta
Keefe, Bruyette & Woods analyst Ryan Krueger upgraded Principal Financial Group (NASDAQ:PFG) to Market Perform from Underperform with a reduced price target of $75 from $77. Krueger believes PFG's investment portfolio is overweight but has below-average invested asset leverage and strong CRE credit quality. He raised 2023 and 2024 EPS estimates to $6.75 and $7.50, respectively.
June 09, 2023 | 5:59 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Principal Financial Group upgraded to Market Perform by Keefe, Bruyette & Woods analyst, with a reduced price target of $75. The analyst cites strong CRE credit quality and better margin trends in the Retirement business.
The upgrade to Market Perform from Underperform by the analyst indicates a positive outlook for PFG's stock price in the short term. The reduced price target of $75, although lower than the previous target, still represents an upside potential from the current trading price of $71.21. The analyst's positive view on PFG's strong CRE credit quality and better margin trends in the Retirement business further supports the potential for stock price appreciation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100