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02318 PING AN
RTNominal down91.700 -3.150 (-3.321%)
Others

06/12/2019 14:13

{I-bank focus}Morgan lifts Ping An (02318) to HK$114

[ET Net News Agency, 6 December 2019] Morgan Stanley lifted its target price for Ping
An Insurance Company (02318) to HK$114 from HK$111 and maintained its "overweight" rating.
The research house said Ping An continued to be an outperformer in 2019, with 23ppt
relative return versus H-share insurance peers. Its quality-focused organizational,
channel and product restructuring have affected growth but not share performance yet as
earnings, EV and dividend growth remain high (19%, 24%, and 19%, respectively, for 2019 on
Morgan's estimates).
The company is more optimistic about the VNB (value of new business) growth outlook in
2020 as it believes the restructuring on product and channel strategy could help lift
agent productivity in 2020. (KL)

Remark: Real time quote last updated: 29/01/2020 17:59
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