《大行报告》汇丰研究升友邦(01299.HK)目标价至95元料中期新业务价值升16%
友邦保险(01299.HK)将於8月23日开市前公布上半年业绩,汇丰研究发表研究报告,料期内友邦新业务价值(NBV)按年升16%至22.66亿美元,受惠於业务量及毛利上升;年化保费料按年升11%至36.09亿美元,中国内地、香港及泰国属主要增长引擎。
汇丰另料友邦上半年新业务利润率达62.8%,按年扩大2.7个百分点,主要受不同国家业务贡献有利组合带动;此外,集团内涵价值料583亿美元,较2018年增长7%;据国际财务报告准则,汇丰料友邦上半年税後经营利润录29.19亿美元,按年升10%。报告并料友邦上半年每股分派33港仙,按年增长14%。
报告指,上述增长预测以列表基准计算,料平均汇率变动对列表数字带来2%至3%的不利影响。汇丰维持予友邦「买入」投资评级,目标价由94元升至95元。汇丰补充,本年至今友邦股价累升31%,跑赢恒指同期表现19%;该行料归功於友邦获准扩大内地业务等有利因素。
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