CMB International Securities analyst Nika MA has reiterated their bullish stance on PIAIF stock, giving a Buy rating on October 29.
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Nika MA has given his Buy rating due to a combination of factors that highlight the strong financial performance and strategic positioning of Ping An Insurance Company of China. The company reported impressive third-quarter results, with a significant year-over-year increase in both operating profit after tax and net profit, surpassing previous estimates. This growth was driven by a turnaround in the asset management segment and robust performance in the life and health insurance sectors.
Moreover, Ping An’s new business value saw substantial growth, supported by the expansion of its agency and bancassurance channels. The company’s investment income has improved, and its asset quality is on an upward trajectory, showcasing effective risk management. These factors, combined with the company’s strategic initiatives and market positioning, have led to an upward revision of earnings forecasts and a reaffirmation of the Buy rating.
In another report released on October 29, J.P. Morgan also maintained a Buy rating on the stock with a HK$90.00 price target.