Recent share price weakness in Prudential set to be 'temporary', Deutsche Bank says
Prudential
714.00p
16:44 25/04/24
-2.88%
-21.20p
For analysts at Deutsche Bank, Prudential's recent share price weakness was set to be temporary.
FTSE 100
8,078.86
17:14 25/04/24
n/a
n/a
FTSE 350
4,434.34
17:09 25/04/24
n/a
n/a
FTSE All-Share
4,387.94
16:49 25/04/24
n/a
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Life Insurance
5,638.37
17:09 25/04/24
-3.35%
-195.20
To back up their case they pointed to the limited duration of recent epidemics as well as their analysis of the asset manager's exposures.
In the short-term on the other hand, the "considerably" faster pace of increase in the number of confirmed cases of the 2019-nCov virus versus the 2003 SARS epidemic meant that sentiment could remain "nervous".
Indeed the so-called Wuhan virus outbreak was coming on top of the pre-existing impact of civil unrest in Hong Kong.
Deutsche kept its recommendation for the shares at 'hold' with a 1,500.0p target price.