TC

13/09/2019 09:13

{I-bank focus}Goldman downgrades CPIC (02601) to "sell

[ET Net News Agency, 13 September 2019] Goldman Sachs maintained its target price for
China Pacific Insurance (CPIC)(02601) at HK$36.05 unchanged but downgraded its rating to
"sell" from "neutral" on the relatively less attractive upside.
The research house said CPIC is up 29% year-to-date, outperforming H-share peers (12%)
and the HSCEI index (4%). While CPIC has maintained a 50% payout ratio since 2015, Goldman
believes this is unlikely to continue in FY2019, especially after the company noted that
it would consider linking the dividend payment with operating profit.
Goldman lowered its FY2019-21 NBV estimates for CPIC slightly, by 2-3%. (KL)

etnet財經‧生活App   財智‧健康‧品味生活     【立即下載】  iOS版 / Android版
人氣文章
財經新聞
評論
專題
產品簡介

【etnet Bonus賞你】好好社企 中秋精選月餅禮盒

【etnet Bonus賞你】領展TKO Gateway便攜式香薰機

【etnet Bonus賞你】荃灣千色匯及元朗千色匯 x 韓國紙雕插畫藝術家Soo Min Kim 消暑手搖沙冰杯+簡約家用收納箱