BofA Securities: PICC P&C (02328.HK) Investment Under Pressure but Underwriting Profit Better Than Expected; Target Price HK$17.2

Zhitong Finance APP has learned that BofA Securities issued a research report stating that PICC Property and Casualty (02328.HK) was under investment pressure, but its third-quarter underwriting profit was better than expected. It maintains a "Buy" rating and a target price of HK$17.2, and believes that amid market volatility, the stock is the most defensive name in the sector.