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<Research>JPM Rates PING AN at Overweight, Cuts 2025 NP Forecast
Recommend 24 Positive 46 Negative 18 |
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The PING AN (02318.HK) management believes that confidence in the 2026 life insurance sales outlook and core earnings growth will become key catalysts that complement the highly attractive valuation, according to a JPMorgan research report. The management also believes that risk management measures should be a key focus to maintain solvency capital and profit resilience, ensuring PING AN remains robust amid cyclical fluctuations. In JPMorgan's opinion, the company doesn't need additional financing to support business growth and increase dividends at this stage. JPMorgan has maintained its forecast for PING AN's 2025 post-tax operating profit at RMB130 billion and has lowered its forecast for the FY25 net profit from RMB151 billion to RMB144 billion, with a dividend likely at RMB2.73. PING AN's target price remains HKD100, with a rating of Overweight. AAStocks Financial News |
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