Prudential plc upgraded to Buy from Hold at Deutsche Bank. Deutsche Bank upgraded Prudential plc to Buy citing valuation and the company's above sector growth. The firm has a 1590p price target for the shares.
Prudential plc downgraded to Underweight from Neutral at JPMorgan. JPMorgan analyst MW Kim downgraded Prudential plc to Underweight citing balance sheet concerns and the company's "significant" corporate bond exposure. The analyst has a GBP 1,252 price target for the shares.
AIA Group and Prudential are among insurers weighing making an offer to purchase at least 49% of the $3B insurance unit of Thai lender Siam Commercial Bank, Reuters reports, citing people with direct knowledge of the matter. A successful stake sale in SCB Life Assurance Public Company would make it one of Southeast Asia's largest insurance transactions in history, the report says. The sale process is expected to begin in the third quarter of 2016, though insurers have initiated preliminary discussions with potential advisers for prospective bids, the report says. Reference Link