一文综合券商於中国平安(02318.HK)公布去年业绩後最新目标价及观点
中国平安(02318.HK)昨(3日)收市後公布去年业绩後，股价今早表现向好，券商普遍看好随疫情逐渐缓和下，预期公司今年业务改善。中国平安去年纯利按年倒退4.2%至1,430.99亿元人民币，符合本网综合16间券商介乎1,223.93亿元至1,469.9亿元人民币预测。每股盈利8.1元人民币。公司宣派末期息1.4元人民币，全年派2.2元人民币，高於去年同期的2.05元人民币。
期内新业务价值按年倒退34.7%至495.75亿元，低於本网综合14间券商之501.24亿元至609.36亿元的预测。内含价值按年增长8.9%至8,245.74亿元。剩余边际余额按年增长4.5%至9.601.83亿元。
【纯利符合预期 新业务价值逊】
瑞信表示，中国平安去年好坏参半，指去年新业务价值按年跌35%符预期，但低於市场原预期跌31%，但指公司旗下寿险业务於今年首季前景巩固，维持对其「跑赢大市」评级及目标价116元。
里昂发表报告表示，中国平安去年新业务价值增长令人失望，每位代理商新业务价值按年下降28%。财产险方面综合比率有所改善，公司去年净利润达到1,431亿元人民币，按年下降4.2%，超出市场预期；核心收益按年增4.9%，亦超出市场预期。该行予其94港元目标价，投资评级「买入」。
瑞银表示，中国平安去年新业务价值增长疲弱，足以反映新冠疫情的负面影响，认为内地重启经济活动可支持公司今年首季业务回复增长。公司去年全年派息与核心收益增长基本一致?预计随着代理商活动恢复和消费者对保险产品需求增长下，新业务价值增长将在今年反弹至12%。该行将新其目标价由117港元下调至115港元，维持评级「买入」。
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本网最新综合8间券商对其投资评级及目标价：
券商|投资评级|目标价(港元)
摩根大通|增持|130元
摩根士丹利│增持|121元
汇丰环球研究|买入|120元
野村|买入|116.7元
瑞信|跑赢大市|116元
瑞银|买入|117->115元
花旗|买入|114元
里昂|买入|94元
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券商|观点
摩根大通|P2P借贷平台带动非核心业务增长前景明朗，回报良好
摩根士丹利│新业务价值增长表现不佳，但盈利仍具稳固
汇丰环球研究|核心收益增长胜预期|新业务价值增长成今年关注点
野村|新业务价值增长令人失望，净利润及核心收益均胜预期
瑞信|新业务价值增长符该行预期，经营股本及偿债能力维持强势
瑞银|去年新业务价值增长疲弱，料今年新业务价值增长反弹至12%
花旗|去年业绩基本符合预期，去年第四季度新业务价值增长疲弱但利润丰厚
里昂|新业务价值增长令人失望，核心收益按年增4.9%胜预期
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