Prudential price target raised to $100 from $95 at Piper Sandler

Piper Sandler analyst John Barnidge raised the firm’s price target on Prudential to $100 from $95 and keeps a Neutral rating on the shares. Despite the variable investment income headwinds persisting, the firm’s EPS estimates moved higher following the company’s Q2 results, the analyst tells investors. Piper Sandler remains searching for a catalyst though at a time the company’s asset management business is anticipated to be seeing a “chilled” distribution environment.