PUK - Prudential: Consider Both Upcoming Results And 2024 Risk Factors

2024-03-16 04:13:14 ET

Summary

• Prudential's FY 2023 results, due to be announced on March 20, are less likely to disappoint the market, considering the management's prior comments at an analyst meeting and its peer's performance.
• But there are downside risks pertaining to PUK's 2024 outlook such as a slowdown in Mainland Chinese Visitors or MCV insurance sales growth and the low interest rate environment for Mainland China.
• I stick to a Hold rating for Prudential after considering its FY 2024 prospects and its current valuations.

Elevator Pitch

Prudential plc ( PUK ) [2378:HK] [PRU:LN] shares are rated as a Hold.

I wrote about Prudential's dividends and the prospects for its Greater China businesses in my December 7, 2023 initiation article . My current write-up focuses on the preview of PUK's FY 2023 financial results and the company's 2024 business outlook....

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