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UPDATE: Jefferies Initiates Coverage on China Life Insurance at Hold


Jefferies initiates China Life Insurance (NYSE: LFC) at a Hold rating.

Jefferies notes, “We initiate coverage on China Life at Hold with a price target of HK$20.0. China Life is trading at trough valuation of 1.34x/5.5x 12E P/EV and NBVM (vs. 5-year historical average of 2.6x and 28x). However, we believe the past is not a good reference point and think China Life faces challenges ahead before it can rerate, especially given its ongoing weak growth.”

China Life Insurance closed at $18.96 on Friday.

Latest Ratings for LFC

Mar 2019Goldman SachsDowngradesNeutralSell
Jan 2019HSBCDowngradesBuyHold
Nov 2018UBSDowngradesBuyNeutral

View More Analyst Ratings for LFC
View the Latest Analyst Ratings


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Posted-In: Jefferies & CompanyAnalyst Color Initiation Analyst Ratings

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