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<Research>DBS Elevates PRU (02378.HK) TP to $138, Keeps Rating at Buy
Recommend 2 Positive 2 Negative 5 |
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DBS Group Research issued a research report estimating that PRU (02378.HK) could gain US$1.19 billion from the IPO of its joint venture asset management company, IPAMC, in India. The broker expected PRU's shareholder returns to reach 7-9% over the next two years. As PRU previously expressed its intention to return all proceeds to shareholders through share buybacks, this implies that its shareholder returns could increase by 6.5%. Therefore, DBS Group Research elevated its target price for PRU from $126 to $138, with rating kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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