UBS: Raises target price of PICC (02328.HK) to 21.8 Hong Kong dollars, increase in premium of new energy vehicles boosts profitability.

According to the Wisdom Finance APP, UBS released a research report stating that the competitive threat of affiliated insurance companies of car manufacturers is limited. It is believed that with strong pricing and claims capabilities, China property insurance (02328.HK) will benefit and is expected to achieve a faster turnaround compared to its peers by 2025. Therefore, UBS has raised China Property Insurance's net profit forecast for 2025 to 2029 by 3% to 8%, with a target price raised from 20.7 Hong Kong dollars to 21.8 Hong Kong dollars; maintaining a "buy" rating.