《大行報告》野村上調太保(02601.HK)目標價至41.89元 評級「買入」
野村發表研究報告,基於太保(02601.HK)2021至2022年壽險首年保費(FYP)上升4%,將新業務價值(NBV)預測分別上調2%及3%。
報告指出,雖然太保NBV利潤率低於預期,但FYP增長強勁,其於1月中旬公布的業務戰略著重於長期能力和短期運營表現。野村預期,太保在同業中FYP增長最為顯著,升幅可達9%,NBV增長預期接近20%,主要受較低利潤率所拖累,符合該行全年預期。野村目前預計,太保2020年新業務價值將按年跌28%,2021至2022年則上升18%及12%。
該行維持淨利潤預測基本不變,預期2020至2022年盈利將分別下跌6%、增長15%及10%,目標價由39.98元上調至41.89元,維持「買入」評級。
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