Lyon: Raises China Life Insurance (02628.HK) Target Price to 37 Hong Kong Dollars First Quarter Net Profit Roughly in Line with Expectations

China Life Insurance's target price was raised from HK $33 to HK $37 by Lyon's research report, reflecting the rapid growth of new business value, high net assets, and the appreciation of the Renminbi. The report reiterated the "outperform the market" rating and recommended it as the top choice among the insurance stocks in the industry. Due to the recent change in the A-share market style, the target price of China Life's A shares was lowered from RMB 45 to RMB 39, and the "hold" rating was maintained.