- 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 the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Ken SHIH DBS Group Research | Iris GAO DBS Research | https://www.dbs.com/insightsdirect/ 2023-03-28
Read also DBS's most recent report:
2024-03-22 Prudential - Firm Growth Momentum Ahead.
Previous report by DBS:
2023-11-10 Prudential - Hong Kong Market To Drive Growth.
Price targets by 3 other brokers at Prudential Target Prices.
Listing of research reports at Prudential Analyst Reports.
Relevant links:
Prudential Share Price History,
Prudential Announcements,
Prudential Dividends & Corporate Actions,
Prudential News Articles
