Deutsche backs ‘oversold’ Prudential
Deutsche Bank believes Prudential looks oversold after trailing its insurance peers for most of the year and is sticking with its ‘buy’ rating.
‘Prudential’s shares have underperformed most of their peers this year in the face of investor nervousness over a range of issues: management change, outflows at [fund arm] M&G, China volatility, [new regulations] Solvency II and US Department of Labour proposals,’ said analyst Oliver Steel.