Prudential (PRU) Receives Buy Rating from HSBC

Prudential (LON:PRU)‘s stock had its “buy” rating restated by stock analysts at HSBC in a note issued to investors on Wednesday. They presently have a GBX 2,280 ($30.93) target price on the financial services provider’s stock. HSBC’s price target suggests a potential upside of 18.01% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase boosted their price objective on shares of Prudential from GBX 1,800 ($24.42) to GBX 1,899 ($25.76) and gave the company a “neutral” rating in a research report on Wednesday, March 14th. Citigroup set a GBX 2,186 ($29.65) price objective on shares of Prudential and gave the company a “buy” rating in a research report on Friday, January 12th. UBS set a GBX 2,400 ($32.56) price objective on shares of Prudential and gave the company a “buy” rating in a research report on Thursday, March 15th. Credit Suisse Group set a GBX 2,180 ($29.57) price objective on shares of Prudential and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays boosted their price objective on shares of Prudential from GBX 2,161 ($29.31) to GBX 2,202 ($29.87) and gave the company an “overweight” rating in a research report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of GBX 2,127.90 ($28.86).

Prudential opened at GBX 1,932 ($26.21) on Wednesday, Marketbeat.com reports. Prudential has a 12 month low of GBX 1,612.14 ($21.87) and a 12 month high of GBX 1,992.50 ($27.03).

Prudential (LON:PRU) last released its quarterly earnings results on Wednesday, March 14th. The financial services provider reported GBX 145.20 ($1.97) EPS for the quarter, topping analysts’ consensus estimates of GBX 139 ($1.89) by GBX 6.20 ($0.08). The firm had revenue of GBX 4,400.50 billion during the quarter. Prudential had a net margin of 3.50% and a return on equity of 19.94%.

In other news, insider John W. Foley sold 81,468 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of GBX 1,747 ($23.70), for a total value of £1,423,245.96 ($1,930,610.36). In the last 90 days, insiders bought 30 shares of company stock valued at $54,950.

Prudential Company Profile

Prudential plc, together with its subsidiaries, provides a range of retail financial products and services, and asset management services in Asia, the United States, the United Kingdom, Europe, and Africa. The company offers health and protection, as well as other life insurance products, including participating business and mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.

Analyst Recommendations for Prudential (LON:PRU)

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