Prudential's (PRU) "Buy" Rating Reaffirmed at Berenberg Bank

Key Points

• Berenberg Bank reaffirmed its “Buy” rating on Prudential and set a GBX 1,445 price target, implying 62.76% upside from the previous close.
• Analyst sentiment remains positive: five analysts rate Prudential a Buy, with an average target price of GBX 1,453. Jefferies also set a GBX 1,500 target, while Citigroup lowered its target to GBX 1,400 but maintained a Buy rating.
• Prudential shares opened at GBX 887.80, near their one-year low of GBX 867.40, while the company has a £21.86 billion market capitalization and operates life, health insurance, and asset-management businesses across Asia and Africa.

Prudential (LON:PRU - Get Free Report)'s stock had its "buy" rating reissued by Berenberg Bank in a research report issued to clients and investors on Monday, Digital Look reports. They presently have a GBX 1,445 price objective on the financial services provider's stock. Berenberg Bank's target price would indicate a potential upside of 62.76% from the stock's previous close.

Several other equities research analysts have also issued reports on PRU. Jefferies Financial Group restated a "buy" rating and set a GBX 1,500 price target on shares of Prudential in a research note on Friday, August 28th. Citigroup reduced their price objective on Prudential from GBX 1,425 to GBX 1,400 and set a "buy" rating for the company in a report on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Prudential presently has an average rating of "Buy" and an average target price of GBX 1,453.

Prudential Price Performance

LON PRU opened at GBX 887.80 on Monday. The business's fifty day moving average is GBX 963.34 and its 200-day moving average is GBX 1,032.51. The stock has a market capitalization of £21.86 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 0.40 and a beta of 0.91. Prudential has a one year low of GBX 867.40 and a one year high of GBX 1,238.

Insider Activity

In other Prudential news, insider Anil Wadhwani purchased 42 shares of the stock in a transaction dated Thursday, September 10th. The shares were bought at an average price of GBX 990 per share, with a total value of £415.80. 0.52% of the stock is currently owned by company insiders.

Prudential Company Profile

Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts.

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