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02601 CPIC
RTNominal up23.400 +0.050 (+0.214%)
Research Report

17/01/2020 16:58

{I-bank focus}Nomura raises CPIC (02601) to HK$39.3; "buy"

[ET Net News Agency, 17 January 2020] Nomura raised its target price for China Pacific
(CPIC)(02601) to HK$39.3 from HK$38.21 and maintained its "buy" rating.
The research house expects CPIC Life to record double-digit open-year pre-sales growth
for 2020, as the company has launched a 3.5% guarantee-return annuity as its key product
for this year's open-year sales, versus its key products being participating products with
an interest rate of 2.5% for 2018 and 2019 open-year sales.
Nomura thinks CPIC will continue to focus on high-quality business and agency
productivity improvements. Hence, it lowered its NBV (new business value) growth forecast
to -7% from -5% for FY2019, while it lifted its FY2020-21 NBV growth forecasts to 7%/8%
from 6%/6%. (KL)

Remark: Real time quote last updated: 02/04/2020 17:59
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