[ET Net News Agency, 24 July 2020] Goldman Sachs raised its target price for New China
Life Insurance (NCI)(01336) to HK$33.7 from HK$31.5 and maintained its "sell" rating.
The research house said NCI did report the fastest premium growth in 1H among the listed
life insurers (+31% versus flat on average), but Goldman believes this is not sufficient
to support continued share price outperformance.
On the more important metric of new business value, Goldman believes NCI is likely to
report a decline in 1H, as most of the new policies sold are of lower-margin products in
the bancassurance channel.
It further revised down its new business value estimate for FY2020/21/22 by 7%/6%/4%.
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01336 NCI
Nominal 
14.360 +0.040 (+0.279%) Others
24/07/2020 16:40
{I-bank focus}Goldman raises NCI (01336) to HK$33.7; "sell"
| Remark: | Real time quote last updated: 25/04/2024 12:00 |
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