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Fly News Breaks for August 5, 2019
PRU
Aug 5, 2019 | 06:47 EDT
Citi analyst Suneet Kamath downgraded Prudential to Neutral from Buy and lowered his price target for the shares to $94 from $112. The analyst sees "muted" earnings growth for Prudential over at least the next year or so. "In other words, our thesis has been interrupted," Kamath tells investors in a research note. He expects Prudential's normalized earnings and return on equity will be lower in 2019/2020 versus 2018.
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