[ET Net News Agency, 24 March 2020] Nomura tweaked its target price for ZhongAn Online
P & C Insurance (06060) to HK$27.55 from HK$27.49 and upgraded its rating to "buy" from
"neutral".
The research house said Zhong An's FY2019 overall results were in line. Nomura expects
the growing pressure from tight regulations on auto insurance and consumer finance
businesses to continue into 2020.
It thinks Zhong An would be one of the key beneficiaries of the surging demand for
online health insurance, particularly triggered by COVID-19. It announced January-February
premium growth of 55%, much faster than peers (PICC P&C -4%, Ping An P&C 3%), which was
driven by strong health insurance business growth. Nomura expects Zhong An to benefit from
the surging online health insurance demand after the COVID-19 outbreak. (KL)
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06060 ZA ONLINE
Nominal 
11.160 -1.160 (-9.416%) Others
24/03/2020 12:36
{I-bank focus}Nomura upgrades ZA Online (06060) to HK$27.55
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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