Citigroup: Lowers target price for CHINA RE (01508) to HK$1.55, rates "Neutral"
The line lowered its earnings per share forecasts for the fiscal years 2026 and 2027 of Chinese reinsurance by 19% and 16% respectively to reflect the expected decrease in profit share from associated companies.
Citibank released a research report, updating the model of CHINA RE (01508) and giving CHINA RE a "neutral" rating. The bank downgraded CHINA RE's earnings per share forecast for the fiscal years 2026 and 2027 by 19% and 16% respectively, to reflect a lower expected profit share from affiliated companies. In response to the earnings forecast adjustment, Citibank lowered CHINA RE's target price from 1.7 Hong Kong dollars to 1.55 Hong Kong dollars and introduced forecasts for the fiscal year 2028.
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