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摩通:降國壽、太保、人保評級至“中性” 籲“增持”中國平安

摩根大通發表研究報吿,指除中國平安(2318.HK)唯一維持“增持”評級外,下調多家內險股投資評級。該行建議由其他壽險股調動資金,趁中國平安股價弱勢進行收集。報吿稱,內地保險股在宏觀及政策不確定性趨增時顯得脆弱,料最少未來六個月市場對資產風險的憂慮將蓋過經營趨勢。長線投資者可考慮這機會,但直至明年首季前缺乏催化劑令該行看法審慎。

報吿稱,平安屬唯一例外,從月度披露可見在低基數下的潛在銷售復甦或成為短期催化劑,支持其“增持”投資評級。該行平均下調內險股目標價40%,將中國人壽(2628.HK)H股評級由“增持”降至“中性”,中國太保(2601.HK)H股評級亦由“增持”降至“中性”,新華保險(1336.HK)H股評級由“中性”降至“減持”,以及人保集團(1339.HK)H股評級亦由“增持降至“中性”。

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