Citi: Raises China Life (02628.HK) target price to 25.7 Hong Kong dollars, rating "Buy"

According to the Wisdom Financial APP, Morgan Stanley released a research report stating that they are updating the financial model for China Life (02628.HK) for the first half of 2025. The report points out that due to the rise in the stock market in 2025 and steady sales growth, China Life's earnings per share forecast for 2025 to 2027 have been raised by 13.1%, 1%, and 1.9% respectively. With the backdrop of improved profit margins, the growth rates of new business value for each year are 6.6%, 8.1%, and 8.5% respectively. Adjustments to intrinsic value and book value are both kept within 1%. Taking all factors into consideration, the target price for China Life (benchmark scenario value) has been raised from 25 Hong Kong dollars to 25.7 Hong Kong dollars, a 2.8% increase, and the rating has been upgraded to "hold".