[ET Net News Agency, 24 July 2019] Nomura raised its target price for PICC P&C (02328)
to HK$11.03 from HK$10.63 and maintained its "buy" rating.
The research house cited domestic news noting that CBIRC has recently released the
Notice on Increasing Punishment over Violation of Auto Insurance Regulations to further
tighten auto insurance sector regulations, and penalise big companies which disrupt the
market order and small-to-mid companies which ignore regulations.
Nomura expects the commission ratio of commercial auto insurance to continue to see
clear Q-Q improvement after 1Q on the tightening of regulations. Though the G&A expense
ratio may rise correspondingly, Nomura thinks the expense ratio will trend down along with
the commission ratio.
It lifted its FY2019-21 earnings forecasts by 12% and FY2019-21 ROE forecasts to 14% for
PICC P&C. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02328 PICC P&C
Nominal 
9.970 +0.150 (+1.527%) Research Report
24/07/2019 11:06
[I-bank focus]Nomura raises PICC P&C (02328) to HK$11.03
| Remark: | Real time quote last updated: 24/04/2024 10:10 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |