《大行》交銀國際升財險(02328.HK)目標價至24元 上半年承保和投資表現優異
交銀國際發表報告指,財險(02328.HK)盈利增長強勁。上半年實現淨利潤按年增長32.3%,承保利潤和投資收益均增長強勁。未年化ROE達到9%,按年上升1.3個百分點。公司擬中期分紅每股0.24元人民幣,按年增長15.4%。
上半年公司承保和投資均表現優異,ROE按年提升。該行預計,隨著非車險報行合一的推行,將推動非車險COR的改善,公司作為龍頭財險公司競爭優勢進一步凸顯。
該行上調財險承保利潤和投資收益預測,上調盈利預測,預計公司2025年盈利按年增長28%,2025至2027年ROE有望保持在14%以上。基於1.7倍2025年市淨率,將目標價從17港元上調至24港元,維持「買入」評級。
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