野村:下调内险股目标价 看好平安(2318.HK)等3股
野村发表报告指,在内地人寿保险方面,当资产的无风险利率趋势下跌至人寿保险负债的保证回报水平,以及令市场增加关注负息差风险时,届时业务质素将比新业务价值增长更为重要。而财险方面,因为逆周期监管及行业承保周期由V形走势重整至U形,预计财险行业将出现较少波动。

该行指,在人寿保险股方面,推荐高利润率的中国平安(02318.HK)及中国太保(02601.HK),因相信业务质素足以应对正在上升中的负息差风险。而财险股方面,该行偏好中国财险(2328.HK)。
野村表示,重申对中国平安“买入”投资评级,下调目标价2.7%,由118.11港元降至114.87港元;维持对国寿(02628.HK)“买入”投资评级,下调目标价6.5%,由24.01港元降至22.44港元;维持太保(02601.HK)“买入”投资评级,下调目标价3.2%,由40.44港元降至39.14港元;维持中国财险“买入”投资评级,微升目标价0.3%,由11.03港元升至11.12港元。
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