Information Provided By:
Fly News Breaks for March 1, 2016
LFC
Mar 1, 2016 | 08:01 EDT
Bernstein finds China Life's rationale for its acquisition of an additional 23.7% stake in unlisted China Guangfa Bank unconvincing. The firm thinks that the company is performing a "national service" by buying the company, which had to be sold and attracted "limited interest" from other entities, according to the firm. Bernstein thinks the deal could weigh on China Life's performance in the near-term, but it adds that fears about China Life becoming a "financial conglomerate" are unfounded. Bernstein keeps a $23.08 price target and Outperform rating on China Life.
News For LFC From the Last 2 Days
There are no results for your query LFC