Prudential price target raised to $130 from $120 at Argus

Argus raised the firm’s price target on Prudential to $130 from $120 and keeps a Buy rating on the shares. The analyst cites the company’s recent Q1 earnings growth reported on April 30th along with its dividend hike in Q1, noting that Prudential has now raised its dividend for 16 straight years. Argus adds that it remains bullish on Prudential based on its strong ROE and attractive valuation as well as the company’s emphasis on faster-growing international life insurance markets that positions it to deliver industry-leading returns.