[ET Net News Agency, 5 November 2019] HSBC Global Research lowered its target price for
Ping An (02318) to HK$130 from HK$131 and maintained its "buy" rating.
The research house said Ping An has best-in-class life and P&C businesses with an
innovative and value-oriented management team. HSBC expects it to deliver 10% new business
value growth over the next three years, while it has also built on its life residual
margin disclosure to improve earnings visibility.
In P&C, it is reassuring that sector-leading GWP (Gross Written Premium) growth has been
achieved with combined ratios below peers. Ping An Bank's turnaround is progressing well,
while Ping An's Fintech & Healthtech leadership could lead to superior growth,
profitability, and options to crystallise value. Overseas ambitions currently appear to be
tied to exporting its technologies overseas. (KL)
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02318 PING AN
Nominal 
37.600 +0.400 (+1.075%) Research Report
05/11/2019 15:12
{I-bank focus}HSBC tweaks Ping An (02318) to HK$130
| Remark: | Real time quote last updated: 20/09/2024 15:32 |
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