《大行》瑞銀升中國財險(02328.HK)目標價至18.7元 料稅後溢利強勁增長
瑞銀髮表研究報告指,預計中國財險(02328.HK)上半年總保費、汽車保費、非汽車保費的按年增長率與第一季基本持平,分別爲3.6%、3.4%及3.8%,並預計上半年保險收入增長超過5%。在承保盈利能力方面,該行估計公司上半年的綜合成本率將增加0.9個百分點至95.3%。汽車綜合成本率持續受惠於傭金結構調整。
在非汽車業務方面,該行認爲由於業務組合改善,健康險和農業險業務顯着改善。因此估計上半年總承保利潤按年增29%。
該行上調中國財險2025至27年的除稅後淨溢利11%、5%及4%,以反映自然災害損失低於預期及年初至今股市表現改善,並重新調整增長預測。該行將該股目標價由16.3元上調至18.7元,續予「買入」評級。
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