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Fully agree , sub 7 is a basket price for a quality outfit. I expect a bounce north of 8 very soon.
One way traffic for the rest of the year - thank you for the sub £7 add opportunity - £8 soon?
Good morning
Entered a holding here from my SMDS sale recently as PRU adds geographical diversification and hopefully some higher growth. I'm inclined to think that concerns over China exposure are a bit overdone as PRU reaches wider than that. FY23 and Q124 were not bad thus looking on this as a good entry point.
Have a good weekend.
Apple Results : - the 8.1% drop in China sales was not nearly as bad as consensus expected, which fear a double digit drop was coming. The CFO said that the China concerns were overblown. “We were happy with our results in China,” he said. “The reality is different from maybe what you read at times.”
No doubt Pru will be using these MS services heavily.
Investment in ASIA .....
Microsoft chairman and CEO Satya Nadella on Wednesday announced “significant commitments” to build a new regional data center in Thailand, among other initiatives
This comes as company announced a day earlier that it will be making a $1.7 billion investment into Indonesia over the next four years to build new cloud and AI infrastructure.
https://www.cnbc.com/2024/05/02/microsoft-to-open-data-center-in-thailand-amid-southeast-asia-expansion.html
I complete agree
News overnight very encouraging. China stock markets well up. Sales of EV cars up 100% in April, our target market ie middle upper classes. Looks like we could bounce today.
Pru may be the worst of these 1yr losses, but not by much
AIA -32%
Ping An -36%
Pru -40%
The market sentiment is poor for Asian investment companies due to China (economy, trade relations with US and political concerns re Russia and Taiwan).
Arguably the prospects were over sold years ago, have corrected and now are undervalued.
Strongly disagree solomonkane. Since the spin out from "old" Prudential, this is an embryonic business. The statement made yesterday was very transparent, they will make an announcement regarding their "capital management plans by HY 2024 results". A tiny bit of patience required my friend.
Https://www.bbc.co.uk/news/world-asia-china-68692375
Sorry with link
Won’t this help us? Savings and investments in our products, many won’t use cash of course
I can see where these crazy broker targets come from now. Is 5 years a long time to wait to more than double your money safely, I don’t think so
£15 in 5 years time will do me nicely thanks
Looking at the number of countries we are expanding in across three continents id say they are still in the early stages of a snowball, clearly long term growth stock
I wouldn’t be surprised to see turnover double over the next 5 years as Asia returns to 5-10% growth
Brand strength going to be key
This is a warren buffet classic but quality and hold for the long term
Conclusion to be drawn from PRU's parsimony is the fact the co cannot afford substantial increases in the payout - which has been paltry for a few years now.
Reassuring £17.50 target price
In key news on UK stocks, Prudential PLC () announced solid Q1 2024 results, which were marred by the missing buyback news that was eagerly awaited by investors. The company’s new business profits grew by 11% (excluding economic impacts) in the first quarter to $810 million compared to the prior corresponding period. Despite this, shares fell by over 4% as of writing, leading the list of top fallers on the FTSE 100 index.
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Even though there was no news on the expected buyback by the company, management assured its ongoing commitment to enhancing shareholder returns. The company expects to provide further updates on its capital management plans before its , scheduled for August.
Prudential PLC specializes in life and health insurance and asset management, with a primary focus on the Asian and African markets.
Prudential PLC’s Q1 Triumph
Prudential’s APE (annual premium equivalent) sales increased by 7% to $1.625 billion. Despite some headwinds in regions like Vietnam and Indonesia, total APE sales have shown consistent sequential growth since the third quarter of 2023. This underscores strong product demand across Asia along with the company’s multi-channel distribution in different markets.
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Prudential emphasized its resilient performance despite comparison with the strong results in Q1 2023, following the reopening of the border between Hong Kong and the Chinese Mainland.
Jefferies analyst Philip Kett compared Prudential’s results to those of its Hong Kong-based competitor AIA Group (), which . AIA Group reported a remarkable 31% surge in the value of new business (VONB) at constant exchange rates, reaching a record quarterly high of $1.33 billion. AIA also announced an additional buyback of $2 billion, taking the total program to $12 billion.
Kett is optimistic about the company’s next update regarding its capital management plans. Kett has a Buy rating on Prudential stock with a price target of 1,750p, implying a growth potential of 150%.
Is Prudential a Good Share to Buy?
Over the last 12 months, PRU stock has lost 40% in trading. This is mainly attributed to the challenges faced by the UK insurance sector due to higher claim costs.
Moving forward, analysts remain bullish on PRU stock and have rated it a Strong Buy. According to TipRanks, has received Buy recommendations from all the 10 analysts covering it. The target is 1,368.76p, which implies a huge upside of 93% from the current trading level.
Just after the close
Somebody is confident
Target prices possibly to be cut tomorrow but likely to be way higher than todays closing price
https://markets.investorschronicle.co.uk/data/equities/tearsheet/forecasts?s=PRU:LSE
First nibble at PRU at 702, whoo hoo!...
Unless you are AIA, that is.
Asia was sold as an extraordinary growth story for PRU.
It's turning out a little differently.
Pru does seem to be taking its shareholders rather too much for granted. per 06:26, it would be nice if AIA would gee them up a bit.
N/m
It would be nice to see other brokers issuing targets like Barclays. Tomorrow morning I think? Surely will be way north of £7.05?
China getting back on its feet again, India fastest growing economy will hopefully boost the share price over the coming months and years ahead
I think the news does not warrant the drop today. Still, fundamentals are still good.
https://www.prudentialplc.com/en/news-and-insights/all-news/news-releases/2024/30-04-2024