JPM: FWD 1Q26 New Business Value Beats; Maintains Overweight
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JPMorgan Chase's report indicates that FWDachieved a 9% YoY increase in new business value to USD314 million in 1Q26, surpassing the forecast of USD244 million. The new business contractual service margin rose to 43.5%. Despite a 19% year-to-date stock price decline, JPM maintains an Overweight rating on FWD with a target price of HKD47, viewing the growth as a positive signal.
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