《大行報告》摩通上調衆安在線(06060.HK)目標價至58元 評級「增持」
摩通發表報告,指衆安在線(06060.HK)三個短期催化劑,包括在電商或健康領域有更穩健及創新的收入增長;8月中旬業績發佈;以及科技業務收入的上升。該行下調2021-22年盈測21%及3%,2023年盈測則上調9%,目標價由50元上調至58元,重申評級「增持」。
摩通預測,衆安在線今年上半年的綜合成本率爲103%,按年下降0.5%,淨利潤爲5.42億元人民幣,按年增長11%,原因是未賺取的保費增加,以及與科技相關的支出增加,令收入增長加快。
該行指,衆安在線在過去12個月展現了強大的產品多樣化。首先,公司在國內旅遊或酒店取消保險範圍內恢復了增長,主要分銷渠道包括同程藝龍(00780.HK)和飛豬。其次,電子商務產品多樣化,包括電信詐騙保險、網上交易的財產損失保險和數字產品的意外保險等,相信衆安能捕捉到網絡用戶小衆的保險需求。
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