大行評級|大摩:維持國壽H股“增持”評級及12.4港元目標價
摩根士丹利發表報吿指,中國人壽首季新業務價值按年升26%,略勝該行預期,受惠於業務組合改善。淨利潤在可對比情況下按年跌25%,但股本回報率仍達17%。該行又指,在低利率環境下,管理層指出2018年起應更多地集中於超長債,佔其新投資資產逾三成。其資產及負債存續期間差距由2021年的5.2年降至2022年的4.7年,並在去年降至4.4年,較其他同業為佳,並紓緩部分投資者憂慮。該行繼續給予國壽H股“增持”評級及12.4港元目標價。
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