[ET Net News Agency, 12 January 2021] Daiwa Research lifted its target price for China
Pacific Insurance (CPIC) (02601) to HK$45 from HK$41.5 and retained its "buy" rating.
The research house noted that CPIC's share price rose by 56% in the past three months or
14% in the first six trading days of 2021.
Daiwa cited media reports noting that ex-CEO of AIA China John Cai will join CPIC Life
as the CEO. It sees this as another signal that CPIC is becoming increasingly
market-oriented in its talent acquisitions and more nimble in its operational structure.
Daiwa reiterated its view that the strategic priority of CPIC has shifted to value
creation and distribution capabilities since late 2020, and 2021 is the first year for the
market to see several concrete results, including management upgrade, staff incentive
plans and VNB turnaround. (KL)
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02601 CPIC
Nominal 
15.560 -0.180 (-1.144%) Research Report
12/01/2021 14:31
{I-bank focus}Daiwa lifts CPIC (02601) to HK$45; "buy"
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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