Stock Track | China Life Soars 5.02% Intraday on Morgan Stanley Target Price Hike and Ping An Buying

Stock Track
05/07

China Life's stock surged 5.02% during the intraday session, reflecting strong positive sentiment towards the insurer.

The movement follows a research note from Morgan Stanley which raised its target price on China Life from HK$37.9 to HK$38.9, maintaining an Overweight rating. The bank cited the company's strong first-quarter new business value growth and slightly raised its earnings forecasts for the coming years.

Additionally, significant institutional accumulation has provided support. Recent disclosures show Ping An Life Insurance purchased a substantial block of China Life shares, with Ping An Group further increasing its stake, bringing its total holding to 13.00% of China Life's H-shares.

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