Glonghui, January 16 丨 Goldman Sachs published a research report stating that with the resumption of quarantine-free travel between China and Hong Kong, Prudential (2378.HK)'s sales to mainland tourists are expected to grow strongly, which may be equivalent to 30% to 40% of the company's new business value in 2018/19 (before the closure of the two places). The bank raised Prudential's new business value forecast for fiscal year 2023 and 2024 by 6% and 9%, as sales from mainland travelers are expected to offset the negative effects of higher discount rates and adverse foreign exchange factors. The bank currently expects Prudential's new business value for fiscal years 2023 and 2024 to increase by 32% and 24%, which is 4% and 5% higher than market expectations. It is also believed that among the Hong Kong/China insurers covered by the bank, Prudential's new business value growth prospects for the 2023 and 2024 fiscal years are the fastest, 5 to 6 percentage points higher than AIA. The bank added Prudential to its confidence list, reiterated its “buy” rating, and raised the target price from HK$161 to HK$185.