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<Research>BofAS Adds ZA ONLINE (06060.HK) TP to $16.1, Raises 2026/ 2027 Earnings Forecasts by 5%
Recommend 3 Positive 11 Negative 1 |
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BofA Securities issued a research report raising its 2026/ 2027 earnings forecasts for ZA ONLINE (06060.HK) by 5%, and adding its target price from $15.3 to $16.1, equivalent to a projected PB ratio of 0.9x, with rating reiterated at Buy. With the decline in the combined ratio and other costs, along with contributions from Hong Kong operations, the Company's earnings are expected to grow to RMB1.5 billion over the next 3 years, compared to RMB1.1 billion last year, the report noted. The Company's 2025 net profit grew by 83% from a low base in 2024, the report added. Core business growth remained stable, with premium income increasing by 7% YoY. Its 2025 combined ratio improved by 1.1 ppt to 95.8%, mainly benefiting from a 2.7 ppts decrease in the loss ratio in lifestyle business to 65.3%. AASTOCKS Financial News Website: www.aastocks.com |
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