CICC: Maintains Prudential (02378.HK) "Outperform" rating, target price HK$151.35

Zhitong Finance APP has learned that CICC has issued a research report stating that it maintains Prudential's (02378.HK) "Outperform Industry" rating and target price of HK$151.35, corresponding to 2026 and 2027 forecast P/EV of 1.2x and 1.0x, respectively, implying 52% upside from the current share price. The bank maintains the company's earnings forecasts unchanged. Prudential's new business profit (NBP) in the third quarter of 2026 increased by 1% year-on-year under both actual exchange rates (AER) and constant exchange rates (CER), while NBP for the first three quarters increased by 7% and 6% year-on-year under AER and CER, respectively, broadly in line with market expectations; the new business margin in the third quarter rose by 3 percentage points year-on-year to 44%.