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大摩予友邦(1299.HK)目标价为91港元评级“增持”
格隆汇 05-07 11:13

格隆汇5月7日丨摩根士丹利发表报告表示,就友邦保险(1299.HK)将于本周五(10日)公布首季业绩,预期其首季基本新业务价值将增长21%(实质汇率(AER)计),主要是受到中国及其他市场的新增销售势头强劲增长所推动,料毛利率料温和上升2个百分点,扩张至63%,相信是因为持续的地区业务组合转移、及新加坡业务的毛利率或有所上升所致。该行预期,友邦旗下新业务价值在所有主要市场都有望维持正增长。基于首季的总保费增长44%,中国有机会是表现最强劲的市场,首年标准保费有望增长超过40%。其他市场料表现稳健,主要是受到澳洲及南韩的新业务价值强劲所带动。

大摩估计,集团旗下香港地区新业务价值增长料约15%,由于去年首季基数高,料表现看来有所放缓。目标价为91港元,维持“增持”投资评级。

(行情数据:富途证券)

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