《大行報告》野村上調眾安在線(06060.HK)目標價至38.75元 評級「減持」
野村發表研究報告,基於眾安在線(06060.HK)上半年保費收入按年增長45%,將全年保費收入增長預測提高3個百分點至33%,預期消費金融及數字生活產品業務上半年將增長超過1.5倍及逾30%,成為增長主要動力。
該行預期,眾安醫療保險業務上半年增長將放緩至25%,但仍高於行業水平,預期隨著內地旅遊限制措施放寬,旅遊保險亦見復甦;汽車保險由於競爭加劇,相信上半年錄得雙位數跌幅。
野村預測眾安的綜合成本率上半年將輕微改善,由去年全年的102.5%降至102%,並於今年全年進一步降至101.5%。展望未來,野村認為眾安下半年將繼續把業務增長放於首位,預期在醫療保險的持續增長和新產品推出的支持下,健康業務將可能保持雙位數的增長,但提醒消費金融業務的增長可能會隨著整體市場趨勢而減慢,維持「減持」評級,目標價由37.99元升至38.75元。
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