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大摩:中港保險股首選友邦、財險及平安 明年迎來供應端改革
格隆匯 12-05 12:22

摩根士丹利發表中港保險股明年展望報告,估計內地保險業將迎來更多產品及分銷渠道的改革,相信行業增長仍會保持適度,但相信仍可支撐股價回報達10%以上水平,而該行重申看好具質素的中港保險股,首選包括友邦保險(01299.HK) 、中國財險(02328.HK)及中國平安(02318.HK) 。

該行估計,內地進行供應端改革,相信可令上市保險股於明年提升競爭優勢,考慮到按年調整因素後,料內險股新業務價值可按年增長5%至10%。

大摩表示,料內地保險業將迎來更多改革,相信仍可支撐主要財務指標(包括盈利、賬面值、內含價值)回報達10%以上水平,令總體回報達15%,維持對行業「吸引」的看法。該行重申對友邦“增持”評級及目標價92港元,並上調對中國平安目標價由111港元升至114港元,維持“增持”評級;同時升中國財險目標價由12港元升至13港元,維持“增持”評級。

該行指,維持對國壽(02628.HK) “與大市同步”評級,上調目標價由22港元升至23港元,並升其預測2019年至2021年純利預測各15%、37%及33.2%。

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