Principal Financial price target lowered to $75 from $92 at Barclays

Barclays analyst Tracy Benguigui lowered the firm’s price target on Principal Financial to $75 from $92 and keeps an Equal Weight rating on the shares. The analyst thinks specialty insurers will outperform standard insurers in Q1 given opportunities afforded from market dislocation. The firm is cautious on "any contrarian" who releases casualty prior year claims development prematurely and sees mixed signals behind the auto path to profitability.