Group 1 - Goldman Sachs has set a target price of HKD 136 for Prudential (02378) and maintains a "Buy" rating [1] - Prudential reaffirms its target for new business profit (NBP) to achieve double-digit growth for the fiscal year 2025, focusing on improving agent productivity, cost efficiency, and claims management, which will translate into profit and free surplus generation [1] - Prudential still expects to achieve positive operating variance by 2027, which is a significant driver for reaching the target of USD 4.4 billion in operating free surplus (OFSG) by 2027 [1] Group 2 - Based on the above factors, Goldman Sachs projects Prudential's mid-term embedded value operating return on equity (ROEV) at 14%, cost of equity (COE) at 12.5%, and long-term growth at 2% [1]
高盛：给予保诚港股目标价136港元及“买入”评级 公司重申NBP目标双位数增