Friday tips round-up: Prudential, Aviva, Taylor Wimpey
Prudential is devoting more of its time and energy to Asia, and with good reason, looking at yesterday's statement. Analysts at Charles Stanley say that given the dampened market, the numbers "were not bad at all". Investors should be encouraged, so hold for now, suggests the Independent.
The Telegraph adds that Pru is yielding a modest 3pc, and there are cheaper insurance stocks. One analyst has given Prudential a price target of 940p and, while this may seem a bit far fetched in the current environment, Prudential is likely to continue to deliver. Buy, says the paper.
With Asia showing no sign of slowing down, and the prospect of a rise in the dividend, Prudential's short and long-term growth looks assured. They're a buy reckons the Times.
Investors betting that Aviva's Asian plans will soon give it the revenue growth currently enjoyed by Prudential should be attracted by a yield today of nearly 5 per cent that will pay for a wait for firmer evidence of momentum building in its overseas sales. The Times recommends the shares as a hold.
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At these levels a lot of bad news is already built into the price at housebuilder Taylor Wimpey and the estimated dividend yield of almost 10pc is high. True, the housing market turbulence could get worse before it gets better, but we think it is worth hanging in there, reckons the Telegraph.
Corin, which makes orthopaedic medical devices, looks set to have a pretty good year. Now that the worries about surgeons' training have been resolved and largely because Stryker is on board as the group's distributor, there cannot be many reasons to avoid the stock. Buy, says the Independent.
Emerging market fund manager Ashmore is an excellent long-term punt for buyers, but in the short term, life does not look so rosy, reckons the Independent. It says sell after Ashmore stated yesterday that funds under management had dropped off $200m to $36.3bn since the end of December.
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