《大行报告》野村上调太保(02601.HK)目标价至41.89元 评级「买入」
野村发表研究报告,基於太保(02601.HK)2021至2022年寿险首年保费(FYP)上升4%,将新业务价值(NBV)预测分别上调2%及3%。
报告指出,虽然太保NBV利润率低於预期,但FYP增长强劲,其於1月中旬公布的业务战略着重於长期能力和短期运营表现。野村预期,太保在同业中FYP增长最为显着,升幅可达9%,NBV增长预期接近20%,主要受较低利润率所拖累,符合该行全年预期。野村目前预计,太保2020年新业务价值将按年跌28%,2021至2022年则上升18%及12%。
该行维持净利润预测基本不变,预期2020至2022年盈利将分别下跌6%、增长15%及10%,目标价由39.98元上调至41.89元,维持「买入」评级。
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