Prudential - DBS Research 2023-03-28: Mainland Chinese Visitor (MCV) Segment To Drive FY23 Growth

• Prudential (SGX:K6S)’s customer-centric strategy and broad product propositions enable it to cater to health and protection demand from premium market segments.
• With the HK-China border reopening, economic normalisation across Asian markets, and strength in its multi-channel distribution, we believe Prudential’s growth momentum will reaccelerate.

HK market to drive net business profit growth of 20%/18% y-o-y in FY23F/FY24F.

• - Read this at SGinvestors.io -

Trading at 0.8x 12-month forward P/EV, providing attractive risk-reward.

• - Read this at SGinvestors.io -
• We hence believe investors’ concern on Prudential’s exposure to risky names is overdone and the current valuation provides an attractive risk-reward.

Revise down target price to HK$150, with 48% upside, reiterate BUY (vs. previous target price of HK$165).

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-04-16 Prudential - Cautiously Optimistic Start To The Year..

Previous report by DBS:
2025-03-28 Prudential - Inflection Points Likely Seen In FY25F.

Price targets by other brokers at Prudential Target Prices.

Listing of research reports at Prudential Analyst Reports.

Relevant links:
Prudential Share Price History,
Prudential Announcements,
Prudential Dividend Payout Dates & Corporate Actions,
Prudential News