Goldman Sachs analyst Alex Scott downgraded Prudential to Sell from Neutral with a price target of $96, down from $98. Lift insurance faces a more challenging year in 2023 and Prudential faces pressures on capital ratios and cash flows which could be further impacted by credit deterioration and weak alternative investment results in 2023, Scott tells investors in a research note. When considering a potentially weakened capital position with the possibility for heightened credit losses and weaker alternative investment returns, the anlayst sees less cash flow being available to the company in 2023.
Published first on TheFly
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