Furui: First gives Forrester Group (01828.HK) a "buy" rating with a target price of HK$37.4

According to the Wise Financial APP, Fuli Group (01828.HK) has recently released a research report stating that the company has double-digit growth in its Asian life insurance business and a continued improvement in profitability trends. However, currently it is only trading at around 0.7 times P/EV. The report believes that investors are overly focused on the recent slowdown in sales growth and are underestimating the significant improvement in the company's profit quality. It is initiating coverage with a "buy" rating and a target price of HK$37.4.