$中国平安(02318)$ Rises +0.43%: Consolidation Near Highs, $80 Target in Sight Core Drivers 🚀
- Strategic Expansion: Ping An Life continues its aggressive buying spree of H-shares in peers like China Life, signaling confidence and a hunt for undervalued financial assets.
- Institutional Vote of Confidence: JPMorgan increased its long position to 8.23% on Feb 9, reflecting strong institutional backing. Analyst Targets 🎯
17 analysts cover the stock with an average target price of HKD 79.29 (upside of ~12%). Sentiment is bullish with 7 Strong Buy and 12 Buy recommendations.Weekly Outlook 🔮
Expect consolidation between HKD 69.70 and HKD 74.70 in the coming week. A decisive close above HKD 74.70 resistance could propel the stock toward the HKD 79-80 analyst target zone. A break below HKD 69.70 may see a retest of the HKD 65-66 support area.
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