《大行報告》中金:中國平安(02318.HK)新業務價值連續三年下跌後首度實現單季正增長
中金發表報告指,中國平安(02318.HK)新業務價值連續三年下跌後首度實現單季正增長。首季平安壽險新業務價值按年增長8.8%,略超該行預期1.7%。另外,淨利潤按年增長48.9%,超過該行預期2.8%,主要由於投資端彈性好於該行預期。
該行指,再度提示平安過去一段時間股價已經明顯弱於基本面,判斷平安負債端趨勢大概率類似太保,只是拐點略微滯後,認為市場當前對於平安持有較為負面的預期對股價帶來的壓制,有望在數據持續轉好後逐步改善,一季報超預期也將提供修復催化。
中金表示,由於公司實際銷售動能好於該行預期,上調新業務價值增速至14%,維持今明兩年每股盈利預測為每股8.8元和9.9元不變,維持「跑贏行業」評級和目標價86.3元。
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