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2024 High Conviction: Underwriting Prudential’s Investment Case into 2024
646 Views30 Nov 2023 08:45
We continue underwriting Pru’s investment case into 2024, with the market now assigning a negative new business multiple. Any modest improvement in its NBM can lead to significant upside.
Boomeranged on Tue, 24 Jun 2025 05:07
Prudential plc's share prices have gone up by c. 40% in London and 50% in Hong Kong YTD. The thesis we highlighted in this note remains largely intact.
Despite the share price gain, its new business multiple is still negative. Hence, upside remains as its new business multiple continues the current trajectory of rating to just a modest multiple of 0x - 2x, as argued in the note.
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