Seeking Alpha

Prudential loses Buy rating at Deutsche

  • "The downgrade is a valuation call," says analyst Yaron Kinar, noting the stock trades at 1.5x book, a "merited premium" to its peers, but still not leaving a lot of room for upside. While Prudential will surely benefit from higher interest rates, Kinar says it's not as sensitive to rates as Lincoln National and MetLife.
  • The price target remains $96.
  • PRU -0.5% premarket, and up a tidy 67% YTD.
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