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中金:明年看好H股保險板塊 預計股價上行空間25%
格隆匯 11-25 14:17

中金公司表示,2020年看好H股保險板塊,預計股價上行空間25%,股息提升等因素有望觸發重估,該行將國壽(2628.HK)H股目標價上調4%至29港元,A股目標價則上調6%至38元人民幣。至於中國平安(2318.HK)AH股目標價均上調7%,最新H股目標價為114港元,A股目標價為102元人民幣。

報告表示,雖然壽險行業新業務價值保持低增速,但由於新業務資本佔用需求下降和近期國家財政需要,預計國有保險公司將在2019年報開始顯著提升現金分紅水平,股息提升有望觸發港股重估。H股推薦中國人壽、新華保險(1336.HK)、平安及中國財險(2328.HK)。

報告又稱,歷史上A股保險板塊從未連續2年帶來正收益,2020年基本面改善有限、股息率缺乏絕對吸引力。A股2020年仍有個股機會,推薦新華保險(601336.SH)及中國平安。

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