China Life Insurance Rating Reiterated by Zacks (LFC)
China Life Insurance (NYSE:LFC)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Thursday, Stock Ratings Network.com reports. They currently have a $46.00 target price on the stock. Zacks‘ price target suggests a potential upside of 4.78% from the stock’s previous close.
Zacks‘ analyst wrote, “We maintain our Neutral recommendation on China Life as strong market position, growth in premiums and investment income is expected to outweigh the headwinds like higher expenses and declining cash flow. The company’s third quarter earnings rebounded from a year-ago loss. Moreover, total assets, ROE and shareholders’ equity witnessed improvement. While the government is supporting the establishment of new health insurance companies to improve healthcare in China, it is also increasing competition risk for China Life, which is largely dependent on the domestic market. Alongside, substantial interest rate and currency risks pose direct threat to long-term growth. Nevertheless, superior brand name, strong investments, premium growth and stable ratings of China Life are likely to give an upward push going ahead. “
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank upgraded shares of China Life Insurance from a “sell” rating to a “hold” rating in a research note to investors on Monday. Analysts at UBS AG downgraded shares of China Life Insurance from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.00.
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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