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PING AN Extends Gains to 4.6% in Early Session as Brokers Say Results Beat
Recommend 21 Positive 30 Negative 13 |
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PING AN (02318.HK) opened 2% higher this morning (29th), and its gains expanded in the early session. The stock peaked at $62.85, and advanced 4.58% to last at $62.8, with 12.4276 million shares traded, involving $773 million. PING AN's 1Q26 net profit declined 7% YoY to RMB25 billion, slightly better than its forecast of a 10% drop, BofA Securities issued a research report saying. Therefore, the broker kept rating at Buy on PING AN, with a target price of $74. PING AN's 1Q26 results were solid across most key metrics, Morgan Stanley released a research report saying. Operating profit rose 7.6% YoY to RMB40.8 billion, slightly ahead of the expectations of the broker/ market by about 4-5%. Therefore, the broker kept rating at Overweight, and named the stock as its top pick, with a target price of $89. PING AN's H-shares underperformed the market YTD, mainly due to concerns over the quality of its bancassurance growth, increased equity investment exposure and interim dividend prospects, JPMorgan published a research report saying. The broker believed that PING AN's 1Q26 results largely addressed these concerns. During the period, new business value grew 21% to RMB15.6 billion, with product margins remaining stable at 23.5% in 1Q26, compared with the 2025 level of 23.4%. These figures were broadly in line with or ahead of JPMorgan's expectations. The broker kept rating at Overweight for PING AN, with a target price of $90. Auto-translated by AI AASTOCKS Financial News |
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