Prudential price target raised to $95 from $86 at Piper Sandler

Piper Sandler analyst John Barnidge raised the firm’s price target on Prudential to $95 from $86 and keeps a Neutral rating on the shares ahead of the Q2 report. The analyst says the key earnings contributors for life insurers – fees, spread and underwriting – all had a “confluence of tailwinds” in Q2. Rates improved, which should be constructive for base portfolio yields, the analyst tells investors in a research note.