0405 GMT - Prudential PLC should report a strong 2H 2024, supported by the Hong Kong and mainland China segments, CGS International analysts Michael Chang and Laura Li Zhiyi say in a note. They project 2024 growth in new business profit, excluding economic impacts, at 14%, accelerating from 9% for the first nine months. The Hong Kong segment was likely helped by agent recruitment spurring faster premium growth, while the China segment was supported by low-base effects, they say. CGS International raises its target to HK$128.0 from HK$116.0 after rolling forward its valuation multiples to 2025 estimates. It maintains an add rating on Prudential due to expectations of strong insurance demand. Shares are up 1.6% at HK$65.95. (hoishan.chan@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 23:05 ET (04:05 GMT)
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