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<Research>JPM Raises Earnings Forecasts, TPs for CN Insurers; Top Picks CHINA LIFE, CPIC
Recommend 60 Positive 92 Negative 72 |
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NCI (01336.HK) has issued a positive profit alert envisioning a 95-115% YoY surge in its net profit for 9M24, which is favorable for the industry's outlook, JPMorgan released a report saying. The broker has adjusted the TPs for Chinese insurers, the details of which are available in a separate table. The broker predicted CHINA LIFE (02628.HK) to issue a positive profit alert soon given its low earnings base. There are three potential surprises in its 3Q results, namely upward revision in earnings, solvency capital, and dividend expectations. As a result, the broker lifted the TP forecast by 26% and the full-year earnings forecast by 7%. The broker preferred quality companies within the Chinese insurance industry. Its top picks included CHINA LIFE (02628.HK) and CPIC (02601.HK), with P/E ratios of 7 times and 6 times respectively for FY25, and a dividend yield of 4% over the next 12 months. AAStocks Financial News |
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