花旗:維持友邦(1299.HK)“買入”評級 目標價84港元
花旗發表研究報告指,友邦(1299.HK)第二季新業務價值按年下滑49%,較首季跌28%進一步擴大,主因友邦旗下各主要市場均因疫情而採取社交距離措施,但隨着相關地區放寬措施,5月及6月起銷售已漸見曙光,而次季內地業務亦錄得正增長,相信友邦最壞時間已過去,維持其“買入”評級,目標價84港元。
花旗表示,友邦上半年新業務價值按實質匯率計下跌38%至14.1億美元,較該行預期的低11%;受香港市場拖累,期內年化新保費按年跌25%,內涵價值更意外地較去年底跌4%至596億美元;不過,税後營運溢利按年升3%至29.33億美元合符預期,純利下跌35%至21.97億美元,亦優於該行預期11%。
該行認為,受累於上半年新業務價值及內涵價值均下跌,預期市場對友邦遜色的業績反應負面。

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