JPMorgan: Maintains FWD Group (01828.HK) target price of HK$48 and "Overweight" rating; raises forecasts for new business value and other metrics.

Zhitong Finance APP has learned that JPMorgan issued a research report stating that it maintains a target price of HK$48 and an "Overweight" rating for FWD Group (01828.HK), and has updated its model to reflect the strong first-half performance, recent macroeconomic changes, and post-results operating trends. The bank raised its forecasts for new business value (NBV), operating profit (OPAT), contractual service margin, and net free surplus generation to reflect stronger execution, though this was partly offset by higher risk-free rates and local currency movements against the US dollar year-to-date.