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《大行報告》瑞信升中國平安(02318.HK)目標價至103元 料上半年新業務價值跌25%
阿思達克 07-17 10:39
瑞信發表研究報告,指中國平安(02318.HK)6月份的個人新業務價值按年下跌15%,但這並不令市場感到驚訝,因為代理活動率尚未完全復甦,而第二波的疫情爆發在某些地區再次出現,例如北京。

該行預期上半年的新業務價值按年下跌25%,意味第二季跌幅達26%。雖然第二季的首年保費趨勢相對首季有所改善,但新業務價值的利潤率仍受壓,估計財產險的綜合成本率會大致維持在96.7%。該行又指,第二季稅後營運溢利增長放慢,但預期上半年股息增長速度會快過稅後營運溢利的增長。而第二季的稅後淨利潤表現則料好壞參半。

該行將中國平安2020財年的每股盈利預測上調2%,目標價由原來的96元上調至103元。維持「跑贏大市」投資評級。

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