Morgan Stanley raised the firm’s price target on Principal Financial to $72 from $71 and keeps an Underweight rating on the shares. This quarter, results from the Life/Annuity group showed sizable dispersion between the companies, but in aggregate both earnings and capital were stronger than expected, which bodes well for strong relative outperformance from the sector, the analyst tells investors in group recap note.
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Read More on PFG:
- Principal Financial price target lowered to $74 from $75 at Barclays
- Principal Financial price target lowered to $74 from $80 at Piper Sandler
- Principal sees two large institutional outflows to impact net cash flow by $5B
- Principal Financial reports Q3 adjusted EPS $1.72, consensus $1.64
- Principal Financial (PFG) Q3 Earnings Cheat Sheet