Citi Maintains Hold On Prudential Financial (PRU)

Citi Investment Research is out with a research report this morning, reiterating its Hold rating on Prudential Financial Inc PRU, after it purchased some AIG AIG assets. It has a $62 price target on shares. In the research report, Citi notes, "Purchase of Star & Edison accretive but not transformational- Unlike Alico, which is being acquired by MET for approximately $16B and has operations in over 50 countries, Star and Edison are solely in Japan and essentially in runoff. As such, this deal is more of an opportunistic deployment of some excess capital as opposed to the strategic growth opportunity MET should achieve with Alico." Shares of Prudential gained 22 cents to close at $54.04 on Friday, a gain of 0.4%.