The analyst rating for PRU (02378.HK) was maintained at "Buy" due to several positive factors highlighted in the report. Citi Research expects a 12% year-over-year increase in FY2025 new business profit, driven by volume growth in key markets such as Indonesia, Hong Kong, and mainland China, while the profit margin remains stable. Additionally, the adjusted operating profit for the insurance business is projected to grow steadily by 5% year-over-year, and after accounting for share buybacks, the operating profit per share is anticipated to increase by 11%. The broker also raised the target prices for both the London-listed shares and H-shares, reflecting a positive outlook on the company's performance.
