share_log

里昂:维持中国财险(02328)“跑赢大市”评级 目标价上调至15.2港元

Lyon: Maintains a 'outperform' rating on picc p&c (02328), with the target price raised to HK$15.2.

Zhitong Finance ·  Oct 30, 2024 03:00  · Ratings

Lyon raised picc p&c's full-year profit forecast for 2024 by 18%.

According to the Wisdom Finance APP, Lyon released a research report stating that it maintains a "outperform" rating for picc p&c (02328), raising its full-year profit forecast for 2024 by 18%, while keeping the forecast for 2025 to 2026 basically unchanged. This adjustment is mainly driven by investment income, offsetting the decrease in underwriting profits. The target price has been raised from HK$13.5 to HK$15.2.

The report mentioned that picc p&c had mixed performance in the third quarter of this year. The net income for the period was 9.3 billion yuan, at the upper limit of profit expectations, mainly driven by the increase in investment income due to the rise of Hong Kong and A shares at the end of September. However, compared to that, the underwriting business of the p&c insurance in the third quarter performed relatively poorly, with a combined ratio (COR) of 100.7%, slightly worse than last year.

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
Comment Comment · Views 322

Recommended

Write a comment

Statement

This page is machine-translated. Futubull tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation.