MARKET TALK: S&P Equity Research Raises Prudential To Buy

17th Jun 2010 09:56

0856 GMT [Dow Jones] Standard & Poor's Equity Research upgrades Prudential (PRU.LN) to buy from hold, "now that the dust has begun to settle after the termination of the American International Assurance transaction." Updates earnings forecasts to allow for positive comment around the AGM on sales in Asia and the US. "Our 2010 'as reported' (actual currency, before restatements) forecast sales growth rates are increased to 18% from 10% in the US and to 20% from 6% in Asia." Raises target price to 685p from 622p. Shares +0.4% at 572p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 17, 2010 04:56 ET (08:56 GMT)