Morgan Stanley has issued a research report indicating that it has raised its growth assumptions for China Life (02628) due to strong new business value growth in the first quarter. As a result, the firm has slightly increased its 2026-2028 earnings per share forecasts by 0.1%, 0.3%, and 0.4%, respectively. Morgan Stanley raised its target price for China Life by 2.6%, from HK$37.9 to HK$38.9, and maintained an "Overweight" rating on the stock.