Prudential upgraded to Strong Buy from Market Perform at Raymond James

Raymond James double upgraded Prudential to Strong Buy from Market Perform with a $125 price target, which represents 38% upside potential. The analyst expects Prudential will “re-rate” as it proves out its transformation strategy and reflects potential for increased share repurchases as a catalyst. Prudential’s catalysts appear largely favorable as “significant de-risking” and reserving recently took place, and investors have been disappointed for a lengthy period, the analyst tells investors in a research note.