BofA Securities: Maintains "Buy" rating and HK$29 target price on China Life Insurance (02628.HK); earnings volatility affected by investments

Zhitong Finance APP has learned that BofA Securities issued a research report stating that it maintains a "Buy" rating and a target price of HK$29 for China Life Insurance (02628.HK) H-shares, and maintains an "Underperform" rating and a target price of RMB 29 for A-shares (601628.SH). The bank expects China Life's full-year profit in 2026 to decline by 26% year-on-year, but the company will aim to keep dividend per share stable. The bank maintains its earnings forecasts and target prices unchanged, and believes that the company's earnings volatility is mainly affected by investment performance.