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02328 PICC P&C
RTNominal up9.990 +0.170 (+1.731%)
Research Report

06/12/2019 11:35

{I-bank focus}Morgan raises PICC P&C (02328) to HK$13

[ET Net News Agency, 6 December 2019] Morgan Stanley raised its target price for PICC
P&C Company (02328) to HK$13 from HK$12 and maintained its "overweight" rating.
The research house said PICC P&C has been one of the outperformers in 2019 - up 15% due
to its strong earnings recovery - and is likely to finish 2019 with 55% earnings growth.
Whilst performance has been volatile due to low confidence and concerns over elevated
catastrophe losses (African Swine Fever, Typhoons) in 2019, Morgan expects it to
stabilize as the company's fundamentals strengthened with reduced operating volatility.
(KL)

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