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CLSA Raises PING AN (02318.HK) TP to HKD74; 1Q OPAT Slightly Beats
Recommend 22 Positive 25 Negative 12 |
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CLSA issued a research report stating that PING AN (02318.HK) recorded YoY growth of 7.6% in 1Q group operating profit (OPAT), while net profit after tax (NPAT) fell 7.4% YoY. Both figures slightly beat market expectations, mainly due to the smaller impact of capital market volatility on the group compared with peers and the resilience of its contractual service margin (CSM). The broker noted that the decline in NPAT was narrower than that of peers. The value of new business (VNB) and VNB margin met expectations, while capital pressure eased slightly. CLSA maintained an Outperform rating on PING AN H shares, raising the TP from HKD71 to HKD74. It also lifted the TP on PING AN OF CHINA (601318.SH) A shares from RMB77 to RMB78, with an Outperform rating. (hc/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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