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一文了解券商於友邦(01299.HK)公布業績後最新目標價及觀點
友邦保險(01299.HK)今早股價偏軟,最新報67.8元下滑近2.7%。匯豐環球研究表示,香港、內地及泰國新業務價值表現強勁,今年上半年新業務價值利潤率則跌至50.8%(對比2022年上半年55.2%),主要受到香港及內地推長期保障性產品的影響,但認為其估值吸引,現價僅相當股價對內含價值1.5倍,重申對其「買入」評級及目標價100元。 友邦昨早(24日)公布截至今年中期業績,新業務價值(NBV)20.29億美元,按固定匯率計按年升37%,按實質匯率升32%,對比本網綜合11間券商料友邦按實質匯率計中期新業務價值介乎18.8億至20.73億美元,按年上升22.4%%至35%,近預期上限。 集團上半年純利22.5億美元,按年升45.8%;每股盈利19美仙。按國際財務報告準則稅後營運溢利32.72億美元,按年跌2.4%。派每股中期息42.29港仙,按年增長5%,分部劃分的新業務表現方面,按固定匯率計,公司於內地上半年新業務價值6.01億元,按年增長14%;香港新業務價值升1.11倍至6.81億元;泰國新業務價值升28%至3.27億元。 【新業務價值 近預期上限】 里昂表示,友邦業績不錯,估計其後會進行股份回購,料可對股價構成支持,維持「買入」評級及目標價94元。高盛發表報告表示,友邦中期業績強勁,新業務價值按實質匯率計按年升32%,按固定匯率計按年升37%,較該行預期高4%及3%。第二季新業務價值增速按年加快,主要受惠通關後內地訪客重臨令銷售強勁,本港業務成主要推動力。高盛維持友邦「買入」投資評級及目標價101元。 ------------------------------------------ 下表列出7間券商對友邦投資評級及目標價: 券商│投資評級│目標價(港元) 大和│買入│145元 富瑞│買入│102元 高盛│買入│101元 匯豐研究│買入│100元 野村│買入│98.75元 里昂│買入│94元 摩根大通│增持│86元 券商│觀點 大和│泰國業務成為大中華地區以外新增長動力 富瑞│上半年新業務價值及新保費收入均高於預期 高盛│中期業績強勁,次季新業務價值增速加快主因本港業務推動 匯豐研究│新業務價值繼續復甦,受惠內地、香港和泰國強勁增長 野村│上半年利潤率較弱,但新業務價值增長強勁 里昂│上半年新業務價值增長超預期,由內地、香港及泰國業務推動 摩根大通│上半年本地業務增長強勁,惟內地產品利潤率惡化幅度比預期大
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