[ET Net News Agency, 24 July 2020] Morgan Stanley lifted its target price for ZhongAn
Online P & C Insurance (06060) to HK$42 from HK$33 to reflect its sustained positive view
on the InsurTech industry, as well as ZhongAn's scenario-based sales model.
But Morgan downgraded its rating to "equal-weight" from "overweight" as the current
valuation looks slightly stretched.
The research house said the share performance has surprised the market with 58% increase
since the beginning of June, as the market gradually starts to appreciate its more
resilient online business model and strong 1H earnings.
Morgan said the sales of ZA Online's online medical insurance products took off during
Covid-19, leading to a strong 17% premium growth in the first five months of 2020, versus
a decline for most agency life operators. (KL)
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06060 ZA ONLINE
Nominal 
12.400 +0.160 (+1.307%) Research Report
24/07/2020 17:47
{I-bank focus}Morgan downgrades ZA Online to "equal-weight"
| Remark: | Real time quote last updated: 25/04/2024 10:09 |
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