《大行报告》中金料内险股未来六个月估值修复空间仍有30% 憧憬开门红预售佳
中金发表报告指,过去一段时间A/H股保险板块股价表现优秀,认为主要由於部分公司开门红预售情况较好和估值切换,考虑到市场普遍预料中期内(三至六个月)长端利率保持较高水平甚至略有向上,因此开门红新单增速水平和可持续性(即之後3个季度的增长情况),将成为决定这一轮保险股估值修复空间和时间长度的关键因素。
中金表示,基於对影响开门红增速的六个因素的分析,该行尝试估计了明年各家险企开门红新业务价值增速:预计行业明年首季新业务价值按年增长10%至15%。值得注意的是,影响开门红增速的因素诸多,且险企主观调节空间大,因此与最终结果可能有一定偏差。
该行又认为,未来三至六个月A/H股保险板块的确定性估值修复空间还有20%/30%,部分个股空间超过40%,而低估值开门红增速更快的公司更具风险收益比。中金对行业的A股排序为太保(601601.SH)、平安(601318.SH)、新华(601336.SH)、国寿(601628.SH)。H股排序为太保(02601.HK)、太平(00966.HK)、中国平安(02318.HK)、新华(01336.HK)、国寿(02628.HK)。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.