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<Research>JPM Downgrades PING AN to Neutral, Prefers PICC P&C w/ Rating Upgraded to Overweight
Recommend 17 Positive 33 Negative 18 |
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Chinese insurers outpaced the market last year, but their appeal was dampened by this year's strong macroeconomic headwinds, JPMorgan opined in its research report. The broker downgraded the ratings of major Chinese insurers. Among them, PING AN (02318.HK) was downgraded from Overweight to Neutral, with the target price reduced from $78 to $50. PICC P&C (02328.HK) was upgraded from Underweight to Overweight, with the target price increased from $7.8 to $15. PICC GROUP (01339.HK) was upgraded from Neutral to Overweight, with the target price increased from $3.3 to $4.7. AAStocks Financial News |
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