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02628 CHINA LIFE
RTNominal down17.000 -0.040 (-0.235%)
Others

29/10/2020 11:44

{I-bank focus}Nomura lowers China Life (02628) to HK$23.52

[ET Net News Agency, 29 October 2020] Nomura lowered its target price for China Life
Insurance (02628) to HK$23.52 from HK$23.95 and maintained its "buy" rating.
The research house said China Life's net profit was down 18% for 1Q-3Q, above Nomura's
expectation, but NBV (new business value) growth of 2.7% was below its expectation and
much stronger than most of the listed peers given their double-digit decline.
Nomura cut its 2020/21/22 NBV forecasts by 4.6%/3.2%/3.4% and now it expects 2020/21/22
NBV growth of 3.3%/9.5%/8.1%. Meanwhile, it lifted its 2020-22 earnings estimates by
13%/5.5%/4.6%. (KL)

Remark: Real time quote last updated: 27/01/2021 17:59
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