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<Research>JPM: Rating Kept at Underweight for CHINA TAIPING (00966.HK) on Weakening Investor Confidence
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CHINA TAIPING (00966.HK)'s share price sank by a total of 18% since the announcement of its interim results on 28 August, underperforming the market, JPMorgan released a research report saying. This is believed to be due to weakening investor confidence in its beta strategy theme. The broker still kept rating at Underweight on CHINA TAIPING, highlighting two major downside risks before the end of the year, including the yet-to-arrive market expectations upward earnings forecast revisions and the lackluster yield outlook. These factors are expected to offset the potential upside from sustainable underwriting performance, making it difficult for its stock price to outperform the market by year-end. JPMorgan extended its target price forecast timeframe to June 2026, and added its target price from $8.2 to $9.4. AASTOCKS Financial News Website: www.aastocks.com |
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