China Life Insurance’s “Outperform” Rating Reaffirmed at Zacks (LFC)
China Life Insurance (NYSE:LFC)‘s stock had its “outperform” rating reiterated by Zacks in a note issued to investors on Friday, AnalystRatingsNetwork.com reports. They currently have a $49.00 price objective on the stock. Zacks‘ price target would indicate a potential upside of 20.96% from the stock’s previous close.
Zacks‘ analyst wrote, “The superior brand name, an extensive domestic distribution channel, strong investments, and stable ratings of China Life is impressive. The company’s operating income improved in the first half of 2013 due to increased investment income as well as other operating income. Additionally net premiums, that are the main source of business are maintaining an increasing trend and is expected to bolster top line growth in the upcoming period. Moreover, total assets, return on equity and shareholders’ equity enhanced during the quarter. Nevertheless, the company faces substantial interest rate and currency risks. Being largely dependent on the domestic market, increased competition in the domestic front and declining cash flow levels are other downsides. We are retaining our Outperform recommendation on the stock.”
Shares of China Life Insurance (NYSE:LFC) traded up 1.21% during mid-day trading on Friday, hitting $41.00. The stock had a trading volume of 145,128 shares. China Life Insurance has a one year low of $33.88 and a one year high of $52.72. The stock has a 50-day moving average of $37.57 and a 200-day moving average of $38.94. The company has a market cap of $78.003 billion and a P/E ratio of 27.28.
China Life Insurance Company Limited is an insurance company. The Company provides a range of insurance products, including individual life insurance, group life insurance, accident insurance and health insurance products.
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