《大行報告》瑞銀下調財險(02328.HK)目標價至6.8元 評級「買入」
瑞銀發表報告表示,中國財險(02328.HK)第三季純利按年下跌19%至42億元人民幣;首九個月綜合比率為98.4%,即代表第三季為100.5%,上升2個百分點及輕微差過該行預期。
短期內,該行預計汽車保險改革將繼續對財險的整體盈利能力構成壓力,因佣金費用下降可能會遲過保費減少。
瑞銀指,中國財險現價已反映潛在盈利轉差的因素,長遠而言相信財險之汽車保險業務維持穩健,惟下調對其2020至2022年度盈利預測介乎2%至3%,將目標價由7元降至6.8元,維持「買入」評級。
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