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《大行報告》高盛微升友邦(01299.HK)目標價至98元 今年延續強勁增長勢頭
阿思達克 03-15 10:36
高盛發表報告,將友邦保險(01299.HK)目標價由97元輕微上調至98元,維持「買入」評級,續列確信買入名單內,主因是看好友邦於2024年可保持強勁增長勢頭。 高盛指友邦去年新業務價值(VONB)增長強勁,主要受香港、泰國和中國內地市場業務帶動。公司在業績簡報會上提到,內地和香港的銷售動能在2024年仍然強勁。高盛認為,這些補充資料可證明內地市場的利潤率在2023年上半年已觸底,並將在2024年持續改善。 對於香港市場,友邦從內地訪客(MCV)的銷售中產生的新業務價值約7億美元,遠低於疫情前高峰期的10億美元,高盛考慮到香港提供的美元計價產品吸引力和中國大陸訪客數量的持續增加,因而估計其2024年新業務價值仍有顯著增長空間。 高盛又預計,友邦目前的股票回購計劃可能持續到2024年第四季,管理層未提供有關資本回報的新資訊。考慮到友邦強大的資本覆蓋率和對利率變動的低敏感性,高盛認為公司有足夠的資本維持遠高於當前股息的總股東回報。報告預計管理層將在8月時2024年上半年業績發布會上,就股東回報將可提供更明確信息。
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