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Prudential retain 'add' rating

Date: Thu, 25 Mar 04 Analysis

LONDON, UK - Dresdner Kleinwort Wasserstein's have maintained their 'add' rating on the life insurance and financial services company Prudential, following a recent review.

The research, which also led to a reduction in the company's target price from 530p to 513p, contained mixed messages with analysts initially predicting the company's stock would be likely to outperform the UK life insurance sector in the near term.

However, analysts also expressed anxiety in relation to the company's considerable exposure to any potential near-term weakness in the life insurance sector.

In addition, whilst the report failed to forecast any catalysts for the company's stock in the near term, expectations of an eventual near-term sell-off of Prudential's Egg division was believed would give impetus to the company's stock performance.

Prudential Shares, are currently trading at 438p.

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