You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
瑞銀:下調友邦(1299.HK)目標價至90港元 評級“買入”
格隆匯 10-18 11:38

瑞銀髮表的研究報告指,認為針對友邦(01299.HK)香港區的增長的負面因素已反映,而該行最「熊」的估算仍反映公司2020年預測內含價值營運回報率(RoEV)為14%,高於歷史平均的13.4%,重申對其“買入”評級,認為其估值吸引並提供了一個罕有的機會買入,但將其目標價由92港元降至90港元,以反映近期香港局勢對新業務價值增長的影響。該行與友邦管理層會面後對友邦中國策略看法正面,而瑞銀的調查亦顯示友邦在經紀分佈方面仍有區分,為反映香港方面的影響,將下半年集團新業務價值預測調整至下跌2%,但預計2020年上半年新業務價值增長將復甦至6%,而2020年下半年增長進一步加速至24%。

該行認為友邦於2020年有可能開始在中國版圖上擴張,並每年增1-2個省份。以城市為基礎的策略將助AIA複製其經紀模式及以其保障為主的產品組合。而公司有較強品牌及顧問服務,有助避免價格方面的競爭,另外未來亦有機會在健康科技上有所區分。

瑞銀指友邦將於11月15日公佈第三季業績,預期香港的局勢將影響到內地旅客保單銷售,並預期友邦香港第三季新業務價值將跌19%。而中國基數較高,料集團新業務價值將增2%。另外該行亦認為第四季將繼續有影響,而內地客保單銷售將在2020年復甦。

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.
uSMART
Wealth Growth Made Easy
Open Account