[ET Net News Agency, 25 November 2019] Nomura lifted its target price for PICC P&C
(02328) to HK$11.62 from HK$11.12 and maintained its "buy" rating.
The research house believes that PICC P&C has a strong competitive edge over
small-to-mid players in the sector, thanks to its lower fixed expense ratio, which is a
result of economies of scale, as the company has the largest market share.
As Nomura expects market consolidation, the company should continue to gain market
share. Furthermore, it thinks the company will seize online opportunities by leveraging
its strong offline service network.
Nomura raised its FY2019 premium growth forecast to 11% from 9% as the company reported
a premium growth of 12% for 10-month 2019, leading to a 1% increase in each of its
FY2020/21 earnings forecasts. (KL)
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02328 PICC P&C
Nominal 
10.040 -0.060 (-0.594%) Others
25/11/2019 11:19
{I-bank focus}Nomura lifts PICC P&C (02328) to HK$11.62
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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