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<Research>JPM Upgrades CHINA TAIPING to Overweight, Raises TP to HKD30
Recommend 14 Positive 30 Negative 12 |
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China's small- and medium-sized insurance stocks outpaced the market last year with an average increase of about 58%, reflecting growing market optimism towards emerging life insurance demand and favorable macroeconomic conditions, JPMorgan commented in its research report. That being said, JPMorgan believes recent moderate adjustments in earnings and dividend expectations have only partially reflected the macroeconomic tailwinds for 2H25. JPMorgan has upgraded CHINA TAIPING (00966.HK)'s rating from Underweight to Overweight and lifted its target price from HKD9.4 to HKD30, citing a recovery in life insurance sales and upward revisions in short-term earnings forecasts as potential triggers for a stock price rise. In contrast, JPMorgan has downgraded CHINA RE (01508.HK) from Overweight to Neutral, forecasting potential weakening in non-life underwriting prospects due to softening reinsurance prices. The company's target price has been cut from HKD2.1 to HKD1.8. JPMorgan also gave ZA ONLINE (06060.HK) and SUNSHINE INS (06963.HK) Overweight and Underweight ratings. ZA ONLINE's and SUNSHINE INS' target prices have been elevated from HKD26 to HKD27 and from HKD2.1 to HKD3. AAStocks Financial News |
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