AMP's (ASX:AMP) guidance for first-half 2026 underlying net profit after tax (NPAT) of AU$170 million to AU$180 million came in substantially ahead of expectations as growth in the company's Chinese partnerships materialized, Jarden said in a late Thursday note.

"Whilst we had flagged the prospect of higher returns from these partnerships and capital return from carried interest, the magnitude and speed of upgrades was a positive surprise," the investment firm said.

The mid-point of the company's guidance implies a greater than 22% beat against both Jarden's and consensus expectations, with China earnings forecast to comprise up to around 33% of group earnings.

The equity research firm raised its estimate for AMP's first-half underlying NPAT to AU$173 million from AU$143 million, noting that upside to hit the top end of guidance will probably come via the company's platforms or superannuation and investments business.

Momentum from China partnerships could continue in the second half of the year, Jarden said as it increased its earnings forecast for that period to AU$54 million from from AU$39 million.

The investment firm maintained a neutral rating on AMP while raising the target price to AU$2 from AU$1.80.

AMP shares gained over 3% in recent Friday trade.