[ET Net News Agency, 7 July 2020] Nomura lifted its target price for Ping An Insurance
(02318) to HK$110.15 from HK$106.31 and maintained its "buy" rating.
The research house lowered its discount rate by 100bp given the improving equity market
sentiment, though it lowered long-term ROEV (return on embedded value) assumption to 17%
from 18%, cutting its FY2020 NBV growth forecast to -4.5% from -0.5% and lowering its OPAT
(operating profit after tax) growth forecast to 9% from 14%.
Nomura reiterated Ping An as its top pick and a long-term core holding within its
coverage because it thinks high-quality players will be better positioned amid interest
rate uncertainty. (KL)
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02318 PING AN
Nominal 
34.050 +1.050 (+3.182%) Others
07/07/2020 10:52
{I-bank focus}Nomura lifts Ping An (02318) to HK$110.15
| Remark: | Real time quote last updated: 24/04/2024 12:05 |
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