Stock Spotlight: Prudential looks to China's reopening to ensure future potential

Struggled during pandemic

Prudential’s bet on the Asian boom is beginning to pay off in the wake of China’s reopening, according to analysts, following a sustained period of declining share price.

The share price of the UK's third largest insurer has stagnated since the end of 2020, according to data from Morningstar, and has struggled to reach pre-pandemic levels after it shifted its focus to the Asian market. Prudential made the tactical change in 2021, divesting from US long-term savings business Jackson National Life and turning its attention towards Asia and Africa. Stock Spotlight: Managers adamant on Greggs' ability to deliver despite inflation bite As a result of the change in the business strategy, Henry Heathfield, equity analyst at Morningstar, said it is difficul...