[ET Net News Agency, 30 October 2019] Goldman Sachs raised its target price for China
Life Insurance (02628) to HK$24.5 from HK$24 and maintained its "buy" rating.
The research house said China Life's 9-month net profit of Rmb57.7bn was in line with
pre-announced profit alert. Importantly, the unrealized gain balance was largely untouched
in 3Q and could be used to support profit growth in FY2020.
China Life's 9-month new business value (NBV) increased by 20%. Goldman estimated that
this implies 3Q NBV growth of 15%, likely the highest among its coverage. This was mainly
driven by agent headcount growth, while NBV margin was likely lower for the quarter.
Goldman raised its FY2019-21 earnings estimates to reflect the strong investment gain
year-to-date. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02628 CHINA LIFE
Nominal 
9.000 -0.060 (-0.662%) Research Report
30/10/2019 16:51
{I-bank focus}Goldman raises China Life (02628) to HK$24.5
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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