Primerica's Robust Potential In Middle-Market Consumers: Insights From Truist Securities Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Mark Hughes has reiterated a Buy rating on Primerica, Inc. (NYSE:PRI), raising the price target to $240 from $220. Hughes sees a meaningful acceleration in transaction volume for Primerica, which is a positive indicator of the company's Q2 fundamentals. The analyst also raised the 2023 and 2024 EPS estimates and the Q2 EPS estimate. The upswing is based on the stronger performance of the S&P 500 impacting the Investment & Savings Product (ISP) segment. Hughes remains optimistic about Primerica's highly-recurring Term Life revenue model and potential to benefit from increased policy demand.
July 10, 2023 | 6:15 pm
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Truist Securities analyst Mark Hughes has reiterated a Buy rating on Primerica, Inc. (NYSE:PRI), raising the price target to $240 from $220. The analyst also raised the 2023 and 2024 EPS estimates and the Q2 EPS estimate.
The analyst's positive outlook on Primerica, including the reiteration of a Buy rating and an increase in the price target, indicates strong confidence in the company's performance. This is likely to have a positive impact on the company's stock price in the short term. The raised EPS estimates for 2023, 2024, and Q2 also suggest expected growth in the company's earnings, which could further boost investor confidence and positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100