Principal Financial price target raised to $88 from $85 at JPMorgan

JPMorgan raised the firm’s price target on Principal Financial to $88 from $85 and keeps an Overweight rating on the shares. The analyst’s long-term fundamental outlook for the life insurance business remains cautious, but the firm are bullish on stocks. The positive stance reflects the tailwind from favorable macro conditions, healthy balance sheets, and negative investor sentiment, the analyst tells investors in a research note. JPMorgan views easing concerns about commercial real estate as a key positive catalyst and considers potential deterioration in corporate credit a “major downside risk” for life stocks.