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《大行報告》野村下調平安(02318.HK)目標價至62.1元 評級「買入」
阿思達克 10-31 10:56
野村發表報告指,中國平安(02318.HK)首三季稅後經營溢利按年跌10%,較該行預期低6%。淨利潤按年下降6%,較該行預期低12%。主要是受資產管理業務淨虧損、財產和意外險保險業務表現未如理想以及銀行業務盈利疲軟影響。 不過,野村指,平安壽險業務的稅後經營溢利和新業務價值均好過預期。首三季壽險稅後經營溢利按年微降1%,比該行預期高出2%。首三季壽險淨利潤按年增長7%,較該行預期低4%。可比基準下,新業務價值按年增長41%,比該行預測高出4%,主要受惠於3.5%定價產品的強勁銷售。至於個人銷售代理數量按季減少4%至36萬,管理層預計在見底前可能會繼續小幅減少。 該行予平安H股「買入」評級。目標價由68.24元降至62.1元。
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