《大行報告》瑞銀料友邦(01299.HK)首季新業務價值按年跌18% 評級「買入」
瑞銀預計,友邦(01299.HK)首季新業務價值將按年下降18%,主要是由於Omicron疫情以及內地市場的高基數,認為投資者對此早有預期。踏入第二季,瑞銀認為香港高基數效應的緩和及新冠病例的急劇下降,應有助於恢復增長;而內地封城是近期復甦的關鍵不確定性。該行認為,中美貨幣政策的差異,以及整個地區的長期增長潛力,並未完全體現在友邦股價中,維持其「買入」評級,目標價110元,香港採用風險為本資本框架規則可能是即將到來的催化劑。
瑞銀認為,中國風險導向償付能力體系二期實施後,友邦中國將在今年第一季開始的季度償付能力報告中,披露更多營運數據,可能包括新業務價值和經紀人數。該行最近的報告顯示,美國利率上升為香港對外銷售復甦奠定更堅實的基礎,加強邊境重新開放的催化劑。
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