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《大行報告》匯豐研究:調整內險股目標價 行業中最喜愛中國平安(02318.HK)
阿思達克 09-03 11:34

匯豐環球研究發表報告表示,由於行業競爭影響銷售及毛利,料內地壽險業新業務價值前景存不明朗因素,指不同內地壽險公司對代理團隊正進行不同階段的重組及產品整合,將會令內地壽險公司毛利趨勢發展不一,但相信內地壽險公司會持續專注高毛利的保障性及醫保產品,而經紀代理的生產力改善將成重要因素。

而該行認為,內地財險業前景好壞參半,雖料可受惠於須付的佣金比率及稅率低,但賠付率及行政開支按年上升,抵銷了佣金比率下降的正面因素。

匯豐環球研究稱,中國平安(02318.HK)屬該行在內險股中的喜愛股份,其次是中國太保(02601.HK)及中國財險(02328.HK),對此三股均予「買入」投資評級,並維持中國平安目標價128元,但下調中國太保目標價由40元降至38元,將中國財險目標價由12元降至11元。該行亦維持中國人壽(02628.HK)「持有」投資評級,並微升目標價由21元升至21.5元。

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