Prudential price target raised to $105 from $100 at Piper Sandler

Piper Sandler analyst John Barnidge raised the firm’s price target on Prudential to $105 from $100 and keeps a Neutral rating on the shares. The firm notes Lifeco. stocks continued to trade higher as concerns around credit and surrenders appear to have receded as rates backed off highs. Claims remain benign, but Piper is transitioning from seasonally strongest mortality quarter to winter months elevation. Risk transfers remain a key focus and secular theme with the emergence of more 3rd-party vehicles, it adds.