** Shares of life insurer Principal Financial Group up 1.7% at $79.16
** J.P. Morgan upgrades PFG to "overweight" from "neutral"; raises PT to $95 from $92, a 22% upside to stock's last close
** Brokerage says the upgrade reflects PFG's lower-risk liability profile and an improved outlook for business trends
** Adds that PFG is trading at a compelling valuation
** JPM says a favorable macro backdrop, healthy balance sheets, and flexibility for share buybacks will enable life insurance stocks to outperform further
** Three of 14 brokerages rate the stock "buy" or higher, eight "hold" and three "sell"; median PT $90 - LSEG data
** PFG stock fell 1.6% in 2024, underperforming the 23.3% jump in the benchmark S&P 500 index
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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