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一文綜合大行於友邦(01299.HK)公布業績後最新評級、目標價及觀點
友邦保險(01299.HK)公布中期業績後股價受捧,盤中曾高見76.7元,一度彈高3.4%,最新報76.5元升3.2%。摩根士丹利發表報告指,友邦上半年稅後經營溢利及股息分別增長4%及6%,大致符合預期。受內地疫情影響,新業務價值(VNB)下跌13%((按固定匯率計)略為勝過預期,第二季VNB下跌10%,跌幅有所放緩。管理層表示,整體業務增長已在6月起出現復甦,新業務價值在7月份已錄正增長。大摩對行業持審慎看法,維持友邦目標價111元,評級為「增持」。 友邦公布上半年業績期,按實質匯率新業務價值按年跌15%至15.36億美元(按固定匯率計按年跌13%),大致符合預期。錄得虧損5.71億美元,相比上年同期純利32.45億美元,每股盈利5美仙。每股中期每股派息40.28港仙。上年同期派38港仙。按實質匯率計上半年稅後營運溢利增1%至32.33億美元,股東分配權益營運回報下跌0.1個百分點至12.7%。內涵價值按年升2.8%至701.05億美元1。 【憧下半年復甦 關注股份回購】 花旗發表研究報告指,友邦上半年業績符合預期,按固定匯率計算新業務價值(VNB)下跌13%,亦在預期範圍之內。該行指出,友邦旗下東盟市場從疫情中復甦,同期中國內地業務仍遭受疫情影響,第二季新業務價值下跌幅度收窄至10%,對比首季為跌19%。該行預計,友邦將恢復股票回購,股價會作出正面反應。 高盛發表報告表示,隨著面對面的銷售活動逐漸恢復後,估計友邦旗下新業務價值在6月份在大多數市場恢復了正增長,估計內地市場7月份新業務價值也出現正增長。 ------------------------------------ 下表列出4間券商對其評級及目標價: 券商│投資評級│目標價(港元) 摩根士丹利│增持│111元 花旗│買入│104元 摩根大通│增持│102元 高盛│買入(「確信買入」名單│93元 券商|觀點 摩根士丹利|受疫情影響上半年新業務價值跌13%,但整體增長已在6月恢復7月實現正增長。 花旗|次季新業務價值表現及增派中期息符預期 摩根大通│中期股息及償付能力資本優於預期 高盛|上半年新業務價值表現符預期,料下半年大部分市場新業務價值重返正增長
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