Morgan Stanley: Raises target price of Ping An Insurance (02318) to 92 Hong Kong dollars, rating "overweight"

Morgan Stanley released a research report stating that after Ping An Insurance (02318) announced its first quarter results this year, it updated its risk-return assessment and adjusted some financial indicators. The bank raised its target price for Ping An Insurance from HK$89 to HK$92, rating it as "hold" and continues to consider it as the industry's top choice. The bank slightly raised the forecast for the group's operating profit after tax (OPAT) for 2026 to 2028 by 0.3% to 0.6%, mainly due to a more optimistic outlook for the asset management (AM) business sector. It is now expected that this business will break even from 2026, one year earlier than previously predicted. The forecast for after-tax net profit (NPAT) for the period was also adjusted up by 0.3% to 0.6%.