Berenberg starts 'Buy' on Prudential with 44% upside and strong H1 2026 results

Berenberg Bank initiated a 'Buy' rating on Prudential plc with a price target of $39.30, implying a 44% potential gain from its current price of $27.29. Prudential reported strong first-half 2026 results, with adjusted operating profit before tax up 9% to $1.81 billion and new business profit rising 8% to $1.38 billion. The company also boosted its interim dividend by 15% and expanded its share buyback program by $300 million, signaling confidence in shareholder returns. Analysts expect continued growth, especially in Asia markets like Hong Kong, supporting a positive outlook for the stock.