Credit Suisse stock analysts like Principal Financial Group's stock. The bank upgraded its outlook for Principal's shares [PFG] to outperform from neutral, reports Barrons
, though it lowered its price target to $32 from $34.
Principal Financial is the parent company to Principal Funds.
Projected lower equity markets and associated lower asset management fees were the reason cited for the price target drop. Credit Suisse expects Principal's earning for the second quarter to come in at $0.66 per share and full year 2010 earnings to be $2.76, or down $0.08 from its earlier estimate. The updated estimates for 2011 and 2012 earnings are $2.96 and $3.37 per share.
Sean Hanna, Editor in Chief
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