《大行報告》花旗:友邦(01299.HK)業績略遜預期 料短期新業務價值增長存挑戰
花旗發表報告表示,友邦(01299.HK)公布去年業績略遜預期,期內新業務價值及內含價值低於該行預期,營運溢利則符預期,每股末期息按年升10%。該行料友邦短期新業務價值會面臨挑戰,因新冠狀病毒疫情及美國息率向下,指友邦估值在回落至股價為內含價值的1.6倍,於歷史平均水平而言將變得吸引,該行維持對其「買入」投資評級及目標價90元。
該行指,友邦去年新業務價值按年升5%至41.54億美元,低於該行原預期2%,期內邊際利潤擴展2.9個百分點;按去年下半年表現計,旗下香港地區新業務價值按年跌26%,中國內地升14%。
花旗表示,友邦每股末期息按年升10%至0.933元,大致符合該行預期,即去年每股派息按年增12%。
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