JPM Cuts CHINA RE TP to HKD1.4, Rating Neutral
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JPMorgan has reduced its target price for CHINA REfrom HKD1.6 to HKD1.4, maintaining a Neutral rating. The report highlights CHINA RE's significant market share in mainland China and its underperformance compared to the HSI, falling 23% year-to-date. Structural factors limiting valuation re-rating include less competitive earnings from its non-reinsurance segment and constraints in profit-sharing from domestic contracts. The stock has seen short selling of $1.91M with a ratio of 30.508%.
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