Prudential Financial 'Ready To Rock,' Analyst Upgrades To Strong Buy
Portfolio Pulse from Lekha Gupta
Raymond James analyst Wilma Burdis has upgraded Prudential Financial Inc (PRU) to Strong Buy from Market Perform with a price target of $125. The analyst expects the company's 2024 repurchases to exceed $2 billion and sees a dividend yield of ~5% as attractive. The analyst also sees potential for further divestment of non-core operations and less appetite for mergers & acquisitions.
August 24, 2023 | 5:30 pm
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Prudential Financial has been upgraded to Strong Buy by Raymond James with a price target of $125. The company's 2024 repurchases are expected to exceed $2 billion and a ~5% dividend yield is seen as attractive.
The upgrade by Raymond James to Strong Buy indicates a positive outlook for Prudential Financial. The expectation of repurchases exceeding $2 billion in 2024 and an attractive ~5% dividend yield could drive investor interest and potentially push the stock price up. The less appetite for mergers & acquisitions could mean more focus on core operations, which could also be seen positively by investors.
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