BofA stays at 'buy' on Prudential
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Analysts at Bank of America reiterated their 'buy' recommendation for shares of Prudential on the back of the insurance and wealth management outfit's latest results.
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In particular, they highlighted Prudential's targets for double-digit growth in 2025 new business profit, after tax operating profit, operating free surplus generation and dividends.
They also highlighted the "positive surprise" from the firm, which no longer expects to inject more capital into its Chinese joint-venture.
The "strong" update was expected to drive a re-rating in the shares, which they also said were one of their "top picks".
Their target price was unchanged at 1,000.0p.