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《大行報告》摩通:友邦(01299.HK)呈超賣 NBV預測修訂可能成為短期正面催化劑
摩根大通發表報告指,友邦(01299.HK)呈超賣狀態,相信是由於投資者對有關中國經濟增長的中期風險回報爭議、對香港離岸市場潛在的資本管制憂慮等。該行預計,友邦2023至2024年內含價值(EV)將分別出現高單位數及雙位數的增長。該行維持友邦目標價87元,評級為「增持」。 該行表示,友邦產品組合在整個市場週期中保持穩健,其產品利潤率正正反映出這點。該行預計,內地市場的產品利潤在今年剩餘時間內將保持不變,料2023及2024財年的新業務價值將分別增長24%和27%。另外,考慮到中國對的大灣區的倡議和保險通計劃,預計香港離岸市場的發展不會面臨短期風險。 摩根大通認為,在友邦公布第三季業績前,新業務價值(NBV)預測修訂可能成為短期正面催化劑。該行預計,第三季新業務價值將達到9.46億美元。另外,如果公司旗下印度業務的資本部署取得任何進展,這亦可能成為正面因素。
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