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摩通:予中國平安(2318.HK)目標價100港元 評級“增持”
格隆匯 07-02 16:47

摩根大通發表研究報告指,中國平安(2318.HK)公佈,馬明哲辭任首席執行官職務,並由姚波出任聯席首席執行官兼首席財務官。該行認為,有關變動不表示馬明哲將退休,因為他繼續留任集團董事長一職。該行予平保目標價100港元,評級為“增持

摩通表示,姚波有豐富的管理經驗,並自2008年以來一直出任集團首席財務官一職,因此對他被任命為集團的聯席首席執行官表示歡迎。該行又指,集團在2018年時任命了3位聯席首席執行官,市場早已預期馬明哲或會辭任,而平保自去年起已全面採用環境、社會與治理(ESG),因此董事會成員與管理團隊分開已在預期之內,以便改善企業管治。因此摩通認為,即使馬明哲辭任,平保的結構、營運等都應保持完整。

摩通又指,集團管理層有望採取主動,以實現更好的股東回報,包括進一步提高派息。該行又認為,集團基於代理人的業務模式,將推動公司股份領先行業的估值,集團目前股價水平的回報前景可觀,並預計平保今年將會成為中國最大的產險企業。

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