《大行報告》瑞銀上調友邦(01299.HK)目標價至110元 評級「買入」
瑞銀發表研究報告指出,總部設於香港的區域性保險公司如友邦(01299.HK)及保誠(02378.HK),可能最受惠於美國加息。雖然對內含價值的敏感度不高,但該行認為本港如邊境重開後,內地遊客潛在銷售額被低估。
該行認為,以預測市涵率計,友邦估值最近回落至1.6倍,或是由於受近期Omicron疫情拖累所致。不過該行料友邦的長遠投資軌跡保持不變,包括擴張境內業務及醫療保健整合。相信市場可能沒有完全考慮中美貨幣政策分歧,將支持本港離岸銷售復甦。
瑞銀將友邦2022至2024財年新業務價值預測上調1%至2%,並將目標價從101元上調至110元。瑞銀對友邦的2023至2024財年的香港新業務價值預測,較市場預期高24%至37%。重申「買入」評級。
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