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《大行報告》交銀國際升財險(02328.HK)評級至「買入」 目標價上調至10.5元
交銀國際發表研究報告指,中國人保財險(02328.HK)上半年淨利潤按年增長5.4%,基本符合市場預期,綜合成本率95.8%,表現較同業好,亦好過該行及市場預期;車險綜合成本率按年上升0.9個百分點,同時維持準備金釋放空間,料年初以來內地災情損失影響有限。 該行指出,管理層有信心實現將商業非車險綜合成本率控制在100%以內的目標,車險綜改影響預期不大,另外在車輛出行提升和新能源車佔比提高背景下,車險綜合成本率上升幅度仍低於該行及市場預期。 交銀國際上調財險全年承保利潤預測,並將今年淨利潤預測上調4%,料按年增長10.6%,預計ROE有望維持13%,目標價從8.5元上調至10.5元,評級亦從「中性」上調至「買入」。
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