《大行報告》野村下調新華保險(01336.HK)目標價至23.45元 評級「買入」
野村發表報告指,新華保險(01336.HK)首三季淨利潤按年下降57%至52億元人民幣,比該行預期低出17%,主要受總投資回報未如理想和額外負債準備金的影響。
報告指,受季內局部地區因疫情封城影響,新華保險新業務價值持續受壓,該行估算其首九個月新業務價值按年下降43%,意味著第三季按年降約20%。
野村降其今年盈測15%,料新華保險2022財年淨利潤將按年下降40%,維持「買入」評級,但將目標價由26.11元下調至23.45元,基於預測2023財年市賬率0.59倍,並假設折現率為15%,長期淨資產收益率為10.5%。
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