UBS slashed PRU Prudential Financial's target to $98 from $105 today. The $35B insurer absorbed downward pressure as analyst Michael Ward maintained hold. AFL Aflac dropped to $114 from $116 showing continued insurance sector caution.
BLK BlackRock saw UBS cut targets to $1,235 from $1,280 despite keeping buy rating. The $148B asset manager faced headwinds as private credit funds absorbed $20B in redemption requests per FT reporting. Apollo and Ares battled similar outflow pressure.
Materials grabbed upgrades as Iran ceasefire triggered relief rally. JP Morgan boosted FCX Freeport-McMoRan to $76 from $68 maintaining buy. The copper producer gained as commodity markets stabilized. UBS lifted ALB Albemarle to $230 from $220 on lithium demand strength.
Broker downgrades dominated financials. JP Morgan slashed MRSH Marsh & McLennan to $206 from $226. BRO Brown & Brown fell to $85 from $91. Aon dropped to $396 from $406 showing systematic insurance brokerage pressure.
CVNA Carvana absorbed a $35 target cut to $455 as used car markets cooled. The online dealer held buy rating despite lowered expectations.
Analyst conviction shifted toward materials while financials faced broad downgrades.
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