In a report released on May 27, Thomas Wang from Goldman Sachs upgraded PICC Property & Casualty Co (PPCCF – Research Report) to a Buy, with a price target of HK$16.10.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Thomas Wang has given his Buy rating due to a combination of factors that highlight PICC Property & Casualty Co.’s strong position in the market. The company is well-aligned to take advantage of the government’s initiative to enhance the valuation of state-owned enterprises. This strategic positioning is expected to result in improved returns on equity and overall valuation metrics.
Furthermore, the company’s significant excess capital is seen as a catalyst for shareholder return initiatives, either directly through PICC Property & Casualty or its parent company, PICC Group. The revised target price of HK$16.1 reflects a potential upside of 7%, which is favorable compared to the downside risk of its peers. These factors collectively support the Buy rating for PICC Property & Casualty Co.
According to TipRanks, Wang is an analyst with an average return of -4.6% and a 48.28% success rate.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue