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中金:料友邦(1299.HK)上半年新業務價值受壓 維持95港元目標價
格隆匯 05-08 14:35

中金公司發表研究報告預計,友邦保險(1299.HK)首季度新業務價值下滑29%,而第二季度將繼續承壓。中金將下調友邦盈利預測,但認為投資者對於其短期挑戰已有充分預期,2月以來的股價波動已經過度反映債券收益率下降的潛在影響,因此維持其目標價為95港元,即較前收市價仍有37%的上行空間。

報告指,考慮到疫情對香港和東盟市場的影響可能大於預期,所以決定下調友邦2020-2021年每股新業務價值預測6.6%和5.4%至0.33美元和0.40美元,並調低每股盈利預測1%和1.1%至0.39美元和0.72美元。

報告指出,由於2月以來內地遊客訪港以及面對面交流受限,預計香港市場首季度新業務價值將同比大跌,及二季度新業務價值仍將繼續下降,預計內地遊客需求和低基數將驅動2020年下半年和2021年上半年新業務價值反彈。

報告説,隨着代理人活動恢復,預計今年二季度中國內地新業務價值將實現正增長,估計疫情對東盟市場二季度新業務價值的影響將加劇,同時或增加三四季度的不確定性。

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