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02318 PING AN
RTNominal up33.050 +0.400 (+1.225%)
Research Report

04/06/2020 10:55

{I-bank focus}Nomura lowers Ping An (02318) to HK$106.31

[ET Net News Agency, 4 June 2020] Nomura lowered its target price for Ping An Insurance
(02318) to HK$106.31 from HK$108.29 and maintained its "buy" rating.
The research house cut its FY2020 NBV (new business value) growth forecast to 0% from
3%, as the pressure from COVID-19 social distancing continues into 2Q despite the gradual
business recovery.
Nomura expects a better recovery in 2H, based on management's comments at the Nomura
Investment Forum Asia virtual conference on 3 June. Meanwhile, it lifted its FY2021 NBV
growth forecast to 10% from 9% as Nomura thinks the ongoing comprehensive life
transformation, which will conclude by end-2020 according to management guidance, will lay
a solid foundation for future business growth from FY2021. (KL)

Remark: Real time quote last updated: 28/03/2024 17:36
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