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交銀:維持對中國平安(2318.HK)買入評級 目標價120港元
格隆匯 02-21 12:55

交銀國際發表研究報告指,中國平安(2318.HK)去年歸母營運利潤按年增長18%,符合預期;淨利潤增長39%,則低於預期,主要由於準備金計提高於預期。暫維持對其“買入”評級和目標價120港元。

該行指,平保新業務價值較年初增長5.1%,集團內含價值較年初增長19.8%,增速符合預期;剩餘邊際增速略低於預期。財險業務上,車險承保利潤保持較好水平,保證保險業務風險偏好降低,綜合成本率保持領先優勢。

該行認為,公司2019年壽險及健康險和財險業務上都更加偏重業務質量提升,各項核心業務指標基本符合預期,預計2020年公司仍處於戰略調整期,主要業務指標將趨於平穩。

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