Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
02328 PICC P&C
RTNominal up7.190 +0.220 (+3.156%)
Research Report

07/12/2020 15:04

{I-bank focus}Morgan lifts PICC P&C (02328) to HK$12

[ET Net News Agency, 7 December 2020] Morgan Stanley lifted its target price for PICC
Property & Casualty (02328) to HK$12 from HK$11 and maintained its "overweight" rating.
The research house said PICC P&C underperformed insurance peers in 2020 - down 31% due
to losses from credit insurance and uncertainty bought by auto reforms. Morgan believes
market concerns are overdone and profitability could remain fairly stable for the name in
2021.
Multiple has bottomed at 0.6x 2021 P/B versus an average of 1.6x P/B over the last 10
years and a re-rating is likely if the company can maintain its margin and dominance in
the auto insurance industry, Morgan noted. (KL)

Remark: Real time quote last updated: 12/04/2021 13:10
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2021 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.