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<Research>UBS Foresees PING AN (02318.HK) 3Q OPAT to Rise 20% YoY
Recommend 28 Positive 35 Negative 12 |
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PING AN (02318.HK) is set to deliver its results for 9M24 on 21 October. UBS predicted that Ping An's 9M24 OPAT will elevate 5% YoY, implying a 20% YoY rise in 3Q24 and a 0.6% YoY decrease vs 1H24. Ping An's strong quarterly results turnaround was mainly driven by solid improvement in P&C underwriting performance and reduced impairment pressure on asset management unit. The broker also predicted that Ping An's 9M24 NPAT will rise 40% YoY, implying a 1.7x YoY spike in 3Q24, on the ride of a robust rebound in the stock market and one-off profits from the technology sector, partially offset by the increase in CB liability amid higher stock price. UBS rated PING AN’s H shares at Buy, with a target price of $59. AAStocks Financial News |
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