AMP Limited shares surged 5.19% during intraday trading on Friday, driven by a wave of positive analyst commentary following the company's robust first-half performance and expanding China operations.

The financial services company reported strong wealth flows and margin expansion across its platforms and superannuation businesses. However, the standout driver was the earnings contribution from its China partnerships, which more than doubled to A$56 million in the half. Jefferies analysts noted that the China Life joint venture has become \"too big to ignore,\" with growth increasingly structural and sustainable, supported by operating leverage and a 41% payout ratio. Jefferies raised its price target to A$2.55 from A$2.07 and maintained a buy rating.

Additionally, AMP announced an interim dividend that beat company guidance and unveiled a A$150 million share buyback for the second half. UBS analysts highlighted the potential for further buybacks through 2027, forecasting A$300 million in total. The stock's upward momentum was also supported by Jarden, which raised its target price to A$2.40 while noting the accelerating performance in platforms and superannuation, despite ongoing concerns about the bank's net interest margin.