Bank of America Securities analyst Andrew Sinclair reiterated a Buy rating on Prudential (PRU – Research Report) today and set a price target of p1,150.00.
Andrew Sinclair’s rating is based on Prudential’s strong growth prospects and strategic targets set for 2025, which emphasize the company’s position in structurally expanding markets. The firm is expected to achieve double-digit growth across key financial metrics, including new business profit, operating EPS, cash generation, and dividends, underscoring its robust growth trajectory.
Additionally, Prudential’s cash generation is projected to accelerate significantly, with expectations of over $1 billion in excess cash annually from 2027. This financial strength supports potential annual buybacks and dividend growth, with a forecasted 15% CAGR in dividend per share from 2024 to 2027. Despite these positive indicators, the stock is currently trading at a discount, suggesting a potential re-rating as the market recognizes its growth potential.
In another report released today, UBS also maintained a Buy rating on the stock with a p1,270.00 price target.