《大行報告》瑞信上調中國平安(02318.HK)目標價至70元 評級「跑贏大市」
瑞信發表報告指,中國平安(02318.HK)去年新業務價值(VNB)按年跌18%,意味著第四季按年跌13%,料人壽保險去年增長6.3%。該行表示,今年1月份,集團面對短暫的疫情壓力及農曆新年效應,而2月份起,上升勢頭開始好轉,並料其新業務價值按年跌幅收窄至低單位數,估計今年全年新業務價值錄得3%增長。
該行亦預料,集團去年經營利潤率(OPAT)增長約3%,意味著去年第四季上升走勢減弱。而全年人壽保險經營利潤率或維持雙位數增長,而集團稅後淨利潤有望於第四季好轉,預計保險公司的股息增長與集團經營利潤率增長會繼續維持一致。
該行將中國平安目標價由62.5元上調至70元,維持評級「跑贏大市」。(ca/k)
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