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大行評級丨高盛:內險股在股東回報方面有明顯改善 上調國壽及中國平安的目標價
高盛發表報告指,近幾個月來,內險股在股東回報方面有明顯改善,多家保險公司宣佈穩定或逐步提高股息的目標,並正在考慮或已提出股票回購計劃。這與政府提升國企估值的目標一致,預計更多保險公司將宣佈改善或穩定股東回報的措施。在該行覆蓋的內險公司中,該行認爲國壽強勁的資產負債表與其當前低派息比率存在最大錯配;財險憑藉2024財年估計的470億元超額資本,最有能力提高股東回報。
高盛將覆蓋內險公司的2025財年每股盈利預測上調3至46%,對中國財險評級從“中性”上調至“買入”,目標價由12.9港元上調至16.1港元,並維持國壽和平安的“買入”評級,國壽的目標價由16.5港元上調至17.5港元,中國平安的目標價由49港元上調至51港元。
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