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瑞信升平保(2318.HK)今年及2021年盈测目标价113港元
格隆汇 08-19 17:03

瑞信发表研究报告指,中国平安(2318.HK)上半年新业务价值增长4.7%,优于该行及市场预期,该行相信全年增长可达8.6%,惟在高基数效应下并不容易达成。瑞信将平保今年及2021年的每股盈利分别调升8%及2%,维持予其“优于大市”评级,H股及A股目标价分别予113港元及100人民币。

报告提到,平保的人寿保险从业员按季跌2%至上半年底的130万名,不过生产力提升8.5%,该行认为从业员人数将对全年的新业务价值增长为重要因素,预期平保将会以更多元化及升级的产品去为从业员提高销售灵活性及维持销售动力。

在派息方面,瑞信指平保中期每股派息增21%至0.75元人民币符合预期,不过与税后运营利润24%的增幅相比则未有惊喜。

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