Prudential Financial beats Q1 earnings estimates, shares seen undervalued with 4.7% yield potential

Prudential Financial reported better-than-expected Q1 results with non-GAAP EPS of $3.61 versus $3.11 consensus and $15.23 billion in revenue, driven by strong PGIM performance. The stock is considered undervalued, with a fair value estimate near $128 based on normalized earnings and a 9x P/E ratio, offering a 4.7% dividend yield. While risks include global market weakness and sales suspension in Japan, the company's strong balance sheet and positive technical trends support a bullish outlook. Rising annuity sales amid higher interest rates also bolster Prudential's growth prospects.