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大和升中国平安(2318.HK)评级至“持有”目标价上调至88港元
格隆汇 08-16 11:12

大和发表报告指,中国平安(02318.HK)上半年纯利高于该行预期13%,中期派息亦按年增长21%。上半年新业务价值增长减速,按年增长仅4.7%,内涵价值则按半年增长11%,两者均与该行预测相同。上半年内涵价值回报率11.2%,按年下跌2.3个百分点。次季新业务价值增长3.2%,自首季之6.1%增幅放缓。

该行相信,中国平安未来首年保费收入将持续下跌,因经纪人数减少及年初「开门红」销售疲弱。上半年新业务价值利润率按年增长5.7个百分点,但相信市场已有所预期。调整计算方法後,上调中国平安目标价,自80元上调至88元。基於近期股价回落,评级亦自“沽售”升级至“持有”

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