Prudential upgraded by Deutsche Bank

Deutsche Bank has upgraded its investment rating on Prudential (LON:PRU) to ‘buy’ from ‘hold’ believing the insurer is “emerging from the gloom” and that the shares are now looking over sold.

Analysts commented: “On the earnings front, we think the bad news is now more than in the price – with normal EPS growth of 8% pa from 2018e being twice the sector growth rate vs a sub-sector PE.”

Deutsche has upped its target to 1,590 pence per share (from 1,385 pence).

At 2:04pm: (LON:PRU) Prudential PLC share price was +5.75p at 1348.75p

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