CMB International: Raise target price of China Life (02628.HK) to HK$31, maintaining a "buy" rating.

According to the Zhixun Finance and Economics APP, CICC International released a research report stating that China Life Insurance (02628.HK) performed well in the third quarter of this year, with a net profit nearly doubling to 12.6 billion yuan on the high base of last year, a year-on-year increase of 92%. This helped boost the net profit for the first nine months to 16.78 billion yuan, a year-on-year increase of 61%. The company's profit growth in the third quarter exceeded that of its peers, mainly due to the dual drive of the growth in insurance services performance and investment services performance. The bank maintained a "buy" rating on China Life Insurance and raised its target price from 29 yuan to 31 Hong Kong dollars.