CLSA Raises PING AN TP to HKD74; 1Q OPAT Slightly Beats
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CLSA has raised the target price for PING ANfrom HKD71 to HKD74 following a report indicating a 7.6% YoY growth in 1Q operating profit (OPAT), which slightly exceeded market expectations. However, net profit after tax (NPAT) fell 7.4% YoY. CLSA maintained an Outperform rating, noting the company's resilience amid capital market volatility. The target price for PING AN OF CHINAA shares was also increased from RMB77 to RMB78, with an Outperform rating.
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