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RTNominal down29.200 -0.300 (-1.017%)
Research Report

19/02/2021 17:03

{I-bank focus}JPM lowers ZA Online (06060) to "underweight"

[ET Net News Agency, 19 February 2021] J.P. Morgan maintained its target price for
ZhongAn Online P&C Insurance (06060) unchanged at HK$36 but downgraded its rating to
"underweight" from "neutral" after a 95% year-to-date rally.
The research house forecasted ZA Online's growth profile to be below 30% in 2021-22
(versus 80% on average in 2017-18). Also, considering the capital-light business model,
higher acquisition costs may delay its underwriting improvement.
JPM said the stock has surged 35% in the past week following strong trading momentum and
a positive profit alert announced on 8 February. It thinks the earnings turnaround was
driven mostly by investments, with a strong equity market performance. (KL)

Remark: Real time quote last updated: 28/10/2021 11:11
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