《大行》高盛首予富衛保險(01828.HK)「買入」評級 目標價44元
高盛首次覆蓋研究富衛保險(01828.HK),給予「買入」評級及44元目標價。
高盛指,富衛保險為新興泛亞壽險公司,在亞洲10個市場營運,並集中於東南亞快速增長的市場。基於公司對比區內領先籌險規模較小,其在交出更快內涵值增長上處更有利位置。但公司自2020年以來內涵值增長為負數,受不利經營趨勢及市場波動影響。在2023年至2024年收緊經營假設後,該行相信公司內涵值增長處轉捩點。
該行預測富衛保險今年至2027年交出平均14.3%的內涵值回報率,對比2022年至2024年的負5.4%,主要由經營改善及經濟差異推動。
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