摩通:下调友邦(01299.HK)目标价至100港元 评级“增持”
摩根大通表研究报告,下调友邦(01299.HK)整付保费增长预测以反映上半年业绩表现,上半年,公司整付保费收入按年大幅下降30%至23亿美元,反映债券收益率下降,该行预期2019年全年整付保费收入将按年跌39%。该行又将公司2019年首年标准保费增长由5%下调至2%(28亿美元),以反映香港潜在销量下跌的影响。

此外,该行下调公司新加坡及泰国新业务价值预测至3.31亿美元(下调8%)及4.23亿美元(下调11%),按年各跌7%及5%。该行又轻微下调友邦未来10年新业务价值预测(不计中国),因此,目标价由108港元降至100港元,维持“增持”评级。
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