野村维持众安在线(6060.HK)“买入”评级目标价26.86港元
野村发表研究报告指,众安在线(6060.HK)上半年虽然转亏为盈,录盈利9500万元(人民币,下同),主要受惠于年化投资回报率8%,不过承保业务的毛利及收入增长都逊于该行预期。野村维持其“买入”评级,惟目标价由31.61港元调低至26.86港元,降幅15%。
报告提到,上半年108.3%的综合成本率虽有所改善,不过未达野村预期的105%,该行亦观察到各个业务的保费收入增长动力减弱,估计是基于经营环境及行业调整改变令保费收入增长放缓。
野村将2019年至2021财年的保费增长预测调低5个百分点,期间的综合成本率调升至108.4%、103.7%及100.5%。该行又将今年的投资回报预测由6.5%调升至8%,今年至2021年的盈利则分别下调57%、51%及32%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.