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02328 PICC P&C
RTNominal down5.870 -0.120 (-2.003%)

18/11/2020 17:36

{I-bank focus}Nomura lowers PICC P&C (02328) to HK$8.47

[ET Net News Agency, 18 November 2020] Nomura lowered its target price for PICC P&C
(02328) to HK$8.47 from HK$9.02 and maintained its "buy" rating.
The research house trimmed its premium forecasts for FY2020/21/22 by 4%/8%/6%, and now
it expects PICC's premium to grow 1.5%/2.5%/10%. In particular, Nomura expects PICC's auto
insurance premium to grow +1.5%/-8%+2%, considering the impact of the auto reform.
However, Nomura also expects PICC to gain share (34% for FY2022 from 32.1% in FY2019) in
the auto insurance market because the market will be more concentrated with top-players,
as small and weak players will be squeezed out. (KL)

Remark: Real time quote last updated: 26/02/2021 17:59
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