里昂:下調友邦(1299.HK)目標價至77港元 評級“跑輸大市”
里昂發表報告指,雖近期香港社會活動影響訪港旅客人數,惟該行未有憂慮長期壽險業務需求受影響,美元計價的投資產品對中國市場仍有吸引力。不過短期而言該行仍抱審慎態度,若業務量疲弱之情況持續,市場價格戰或轉強,限制利潤率升幅。
該行降友邦下半年香港新業務價值預測,料下半年將按年倒退9%,明年上半年僅輕微反彈9%。整體新業務價值增長料於今年下半年及明年上半年分別放緩至7%及15%。該行相應降友邦(1299.HK)
目標價,自84港元下調至77港元,反映香港危機增加不確定性,維持“
跑輸大市
”評級。
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