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<Research>Citi Initiates Pair Trade of Overweight CHINA LIFE/ Underweight NCI
Recommend 19 Positive 55 Negative 22 |
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Citi Research issued a research report initiating the pair trade of overweight CHINA LIFE (02628.HK) and underweight NCI (01336.HK). The broker rated NCI at Neutral, has a PB ratio of 1.6x after its recent rally, and rated CHINA LIFE at Buy, with a PB ratio of only 1x. Citi Research believed that the gap is partly driven by NCI's profit alert expecting a 45-65% growth in earnings for 9M25, while the market may have overlooked CHINA LIFE's strong sales momentum in 3Q25 and reasonable investment returns. The broker's target prices for NCI/ CHINA LIFE are $50.7/ $27.7, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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