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<Research> G Sachs Maintains Buy on PING AN (02318.HK) with TP at HKD75
Recommend 10 Positive 20 Negative 3 |
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G Sachs issued a report expecting PING AN (02318.HK) shares to react positively to its 1Q results, which reflected resilient operating profit, strong growth in new business value of life insurance, and improved underwriting performance in property and casualty insurance. Net profit fell 7% YoY during the period, but still beat the company-compiled market consensus and was in line with the brokers full-year forecast. The decline in net profit was mainly due to YoY decreases of 41% and 13% in the life insurance and property and casualty insurance segments, respectively. The broker believes the market had anticipated this, given weak equity market performance and continued market volatility in the first quarter. G Sachs raised its earnings forecasts for 2026 to 2028 by 1% to 4%. The broker maintained its Buy rating on PING AN with a TP of HKD75. (ec/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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