Principal Financial price target raised to $94 from $88 at RBC Capital

RBC Capital analyst Mark Dwelle raised the firm’s price target on Principal Financial to $94 from $88 and keeps a Sector Perform rating on the shares. The company’s Q4 results were consistent with recent quarterly trends, and while there may be some disappointment with its reduced buyback, incremental, incremental repurchases may not be all that accretive at the current multiple with limited EPS growth expectations, the analyst tells investors in a research note. Investors should own the stock if they are confident in the current rebound in market conditions that are driving both assets under management and fee growth for Principal Financial, the firm adds.