一文了解券商於平安(02318.HK)公布季績後最新觀點、評級及目標價
中國平安(02318.HK)今早股價偏軟，最新跌2.2%報82.8元，券商指其上季壽險業務新業務價值按年跌逾33%及新業務價值毛利率亦下跌均令人感失望。該公司昨(27日)收市後公布截至今年9月底止首三季業績，純利錄1,030.41億元人民幣按年跌20.5%，每股盈利5.83元人民幣，收入升2.5%；首三季壽險及健康險業務實現營運利潤754.46億人民幣升9.2%；實現新業務價值達428.44億人民幣，按年下降27.1%，新業務價值率跌12.4個百分點至35.7%。
匯豐環球研究發表報告表示，中國平安第三季壽險業務新業務價值按年跌逾33%，即相關業務未有反彈，但指集團總體稅後經營利潤按年升12%仍鞏固，維持對其「買入」評級，將目標價由128元降至116元。
大和指，中國平安第三季壽險業務新業務價值按年跌逾33%(對比首季跌24%及第二季跌25%)，表現遜市場預期，新業務價值毛利率亦意外下滑，該行估計平安上季新業務價值利潤率按年下跌至33.2%錄四年來表現最差的季度，因產品組合轉差，維持對其「持有」評級，將目標價由85元降至80元。
本網最新綜合12間券商其投資評級及目標價，有4間券商下調對平安的目標價：
券商│投資評級│目標價(港元)
摩根士丹利│增持│119元
野村│買入│116.57元
匯豐環球研究│買入│128->116元
中金│跑贏行業│113元
麥格理│跑贏大市│107元
瑞銀│買入│105->104元
花旗│買入│104->103元
高盛│買入(「確信買入」名單)│104元
瑞信│跑贏大市│103元
里昂│買入│97元
美銀證券│買入│94元
大和│持有│80->85元
————————————————————
券商│觀點
摩根士丹利│上季純利回復增長，但料壽險業務需更多時間復蘇
野村│新業務價值增長遜預期，疲情使業務發展恢復速度減慢
匯豐環球研究│新業務價值增長遜預期，銷售減資產質量欠佳
中金│對平安今明兩年的每股收益預測各下調1%及5%，將新業務價值預測各降8%及17%
麥格理│第三季度業績疲軟，新業務價值增長微
瑞銀│將今年新業務價值增長預測降至26%，維持明年及後年淨利潤增長預測
花旗│第三季保險業務疲軟，但稅後淨利潤有所改善
高盛│第三季度淨利潤符預期，新業務價值增長低於預期
瑞信│上季業績符預期，關注「開門紅」業務預售前景
里昂│料新業務價值增長未必能回到2019年水平
美銀證券│第三季度業績疲弱，財產險綜合比率差過預期
大和│新業務價值遜預期，但料「開門紅」業務對前景有幫助
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