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大摩:內險業缺乏短期催化劑 下調行業評級至“與大市同步”

摩根士丹利發表研究報吿指,中國保險業短期內缺乏重新評級的催化劑,下調其行業評級,由“吸引”降至“與大市同步”。 該行又將中國人壽、中國平安和中國太保等以壽險為中心的內險股目標價格下調13%-33%。

大摩調低內地與香港壽險業中期盈利增長前景,以反映當前挑戰,包括長期面臨的收益降低和分銷模式面臨不確定性。 該行偏好區內優質保險股,認為防守性較高並可間接受惠於中國經濟增長。另外,大摩將中國太平保險(0966.HK)的評級從“減持”調升至“與大市同步”。

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