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RTNominal down3.080 -0.020 (-0.645%)

25/11/2019 14:53

{I-bank focus}Nomura tweaks PICC Group (01339) to HK$4.33

[ET Net News Agency, 25 November 2019] Nomura tweaked its target price for PICC Group
(01339) to HK$4.33 from HK$4.25 and maintained its "buy" rating.
The research house said the company's P&C business has a strong competitive edge over
small-to-mid players due to a lower fixed expense ratio on economies of scale, as the
company has the largest market share in China.
As it expects market consolidation, Nomura thinks the company will continue to gain
market share going forward. It lifted its FY2019 earnings forecast by 20% given the strong
net profit growth for 1Q-3Q, but it cut its FY2020/21 earnings estimates by 26%/11%. (KL)

Remark: Real time quote last updated: 24/01/2020 17:59
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