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《大行报告》瑞信下调中国平安(02318.HK)目标价至110元 评级「跑赢大市」
阿思达克 05-03 10:47
瑞信发表的研究报告指,中国平安(02318.HK)参与方正集团重整投资,计划收购51-70%权益,涉资371-508亿元人民币,交易将透过平安人寿自有资金支付,重组後平安将成方正集团的控股股东,其偿付能力仍远高於监管最低要求。

该行认为医疗健康对平安的「金融+生态」策略有策略价值,认为目标医疗健康资产有利完善其线下医疗生态系统,认为医疗健康生态不仅有利获取金融客户,同时亦可增加用户黏性及价值。虽然部分投资者担心今次收购涉非核心资产,加上缺乏出售大型资产的经验,料风险胃纳增加或令资金成本提升。

该行将公司目标价由115元降至110元,以反映短期资金成本提升的影响,以及於执行和出售资产方面的风险,评级维持「跑赢大市」。(el/u) ~

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