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《大行報告》野村下調國壽(02628.HK)目標價至15.84元 評級「買入」
阿思達克 04-18 11:50
野村發表報告指出,國壽(02628.HK)低基數效應提振了投資回報,惟鑑於公司去年業績遜預期,下調對其今明兩年的純利預測6%及6.3%,至按年增長41%及27%,總投資回報率將由去年的3.9%恢復至今明兩年的4.5%,使今明兩年的股本回報率增長至9.7%及11%,相對於去年為7%,而過去十年平均水平為10.1%。 該行預期,隨著內地重新開放,估計國壽今年新業務價值將按年增長4.7%,主要受惠於儲蓄型保險產品「開門紅」呈復甦,而在目前資本市場波動的情況下,該類有最低保證回報的產品具吸引力。該行維持對國壽「買入」評級,H股目標價由16.56元降至15.84元。
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