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Research Report

06/12/2019 11:19

{I-bank focus}Morgan lifts ZA Online (06060) to HK$34

[ET Net News Agency, 6 December 2019] Morgan Stanley raised its target price for
ZhongAn Online P & C Insurance (06060) to HK$34 from HK$30 and maintained its "overweight"
The research house said the shares have seen a sharp rebound since 2 October 2, up 54%
after premium growth resumed in September, leading to a modest full-year gain of 13%, but
still underperformed most traditional insurance peers.
The company is also a leader in blockchain-related research and applications, an area
that regained investor interest as the government voiced support for this technology.
Morgan is still confident that the company is on track to break even in 2020.
The slowdown in premium growth over 1H has worried investors, but it was due to mix
adjustment to cut lossmaking businesses. (KL)

Remark: Real time quote last updated: 07/04/2020 17:59
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