Prudential price target lowered to $88 from $104 at Barclays

Barclays analyst Tracy Benguigui lowered the firm’s price target on Prudential to $88 from $104 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.