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《大行報告》摩通上調中國平安(02318.HK)目標價至85元 評級「增持」
摩根大通發表報告,將中國平安(02318.HK)目標價由78元升至85元,此按綜合方式作估值,維持「增持」評級。 該行指將中國平安2022年至2024財年的稅後營運利潤分別上調2%、6%、10%,以反映放寬疫情限制措施後的潛在業務復甦,並相信充足的資本基礎將支持平安持續的業務增長和股息增長。在公司連續三年的新業務價值負增長之後,該行預計其在充足資本基礎下,持續的壽險業務復甦將成為近期催化劑。 摩通認為,中國平安新業務價值的增長將在很大程度上得到平衡分銷策略的支持,意味著包括集團在內的保險公司將繼續保持一定比例的儲蓄保單銷售,因為代理人數量的扭轉和更廣泛的經濟復甦需要更多的時間,代表客戶轉向純保障型產品的意願在明年可能較今年加強,至於養老金業務亦可能在中期內增加額外的新業務增長潛力。
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