《大行報告》摩通:友邦(01299.HK)過去一個月被過度拋售 評級升至「增持」
摩根大通發表研報指,友邦保險(01299.HK)過去一個月被過度拋售,股價表現跑輸大市約8%,相信是入市機會,因此將投資評級從「中性」升至「增持」。
摩通預期友邦今明兩年股東總回報率(股息及回購)達到約6%,考慮到舊壽險保單可觀的現金生成前景,預計該回報水平可持續。
另外,有消息指內監管部門要求所有定價利率3.5%產品於7月底下架,意味著產品利潤率的下行空間有限。
摩通認為,友邦現價估值水平已接近歷史低位,而業務已回到增長軌道,預測明年新業務價值將增長34%至47億美元,維持目標價86元不變。
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