PNGAY - Prudential Plc Is Dealing With Some Near-Term Challenges But The Long-Term Growth And Return Potential Remain Attractive

• Prudential plc's second half results were a little better than expected, and new business continues to grow, but the company has definitely been hurt by the lockdown in Hong Kong.
• The board needs to find a new CEO and CFO, and uncertainty at the top is a near-term risk.
• Prudential is well-leveraged to growing demand across developing Asia for protection and savings products, but there's work still to do in China.
• Low-to-mid teens core earnings growth can support an attractive long-term return, while a 13x multiple on '23 EPS also supports worthwhile upside.

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