Citigroup: Raises target price for New China Life Insurance to HKD 50.7, rates "Neutral"

Citigroup published a research report stating that after China Life Insurance announced its first-half performance, it updated its valuation model and raised its estimated earnings per share for the 2025 and 2026 fiscal years by 8% and 4% respectively, mainly reflecting the latest trends in the capital market. Citigroup slightly raised its target price for China Life Insurance from HK$49.6 to HK$50.7, with a "neutral" rating, due to the high valuation.