《大行報告》花旗降中國平安(02318.HK)目標價至52.6元 業績遜預期
花旗發表報告,下調對中國平安(02318.HK)目標價,由54.5元降至52.6元,維持「買入」評級。該行亦下調今明兩年每股盈測各3.1%及2.8%,以反映去年業績遜預期。
該行指,中國平安去年盈利、稅後經營溢利及內涵值均遜預期,縱使新業務價值穩固及維持每股派息。集團去年稅後經營溢利按年顯著收縮20%至1,180億元人民幣,資產管理淨虧損由去年第三季的58億元人民幣擴至去年第四季的164億元人民幣,全年及去年下半年純利分別按年跌23%及61%,全年總派息維持每股2.43元人民幣,符合預期。
集團內涵值去年下半年按半年顯著下降7%至1,390億元人民幣,主要受累於投資變異及假設改動,全年新業務價格按實際基準計按年升8%,基於長期投資回報假設下調0.5個百分點至4.5%,以及風險折現率由11%降至9.5%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.