Recent share price weakness in Prudential set to be 'temporary', Deutsche Bank says
Prudential
723.80p
16:40 26/04/24
1.37%
9.80p
For analysts at Deutsche Bank, Prudential's recent share price weakness was set to be temporary.
FTSE 100
8,139.83
17:09 26/04/24
n/a
n/a
FTSE 350
4,470.09
16:59 26/04/24
n/a
n/a
FTSE All-Share
4,423.59
17:14 26/04/24
n/a
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Life Insurance
5,699.63
16:59 26/04/24
1.09%
61.26
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.