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DentaNet acquisition announced → Morgan Stanley raises PT to $95; stock at $85.83

Principal Financial announced on March 3 a definitive agreement to acquire DentaNet, Alabama's largest dental network with approximately 1,500 participating providers, strengthening its benefits and insurance portfolio. Morgan Stanley raised its price target to $95 from $93 on March 3, maintaining an Equal Weight rating, while the stock trades at $85.83 as of March 15. The company faces near-term headwinds with recent share declines since last earnings, though the DentaNet acquisition supports a strategic growth narrative.