一文了解券商於友邦(01299.HK)公布季绩後最新评级、目标价及观点
友邦保险(01299.HK)今日股价向上，最新报82.5元升2.5%。友邦今早公布截至今年9月底止第三季业绩，第三季录新业务价值按固定汇率计算按年跌28%至7.06亿美元，符市场预期(本网综合5间券商预测按固定汇率计料介乎6.66亿美元至7.4亿美元，中位数7亿美元)。若按实汇率计新业务价值按年亦跌28%。友邦第三季年化新保费按年减少6%至13.59亿美元；新业务价值利润率减少15.6个百分点至51.6%。
至於按季比较及固定汇率计，集团新业务价值上升22%；新业务价值利润率增0.2个百分点；年化新保费增21%。今年首三季新业务价值按固定汇率计算按年下跌34%至21.16亿美元；年化新保费按年跌19%至39.38亿美元；新业务价值利润率跌12.6个百分点至53.4%。
【东盟业务佳 绩後有支持】
摩根大通发表告表示，友邦上季新业务价值按年跌28%，大致符合该行预期，相信市场早已反映相关负面因素，因本港离岸业务因受到检疫措施影响、本港业务仍弱及产品组合恶化，但该行留意到友邦在东盟市场业务呈强劲复苏，重申对其「增持」评级及目标价94元。
高盛发表报告指，友邦今年第三季新业务价值为7.06亿美元，符合市场预期的7.12亿美元，并优於该行预期的6.7亿美元，虽然按年计大跌28%，但意味按季增长22%，主要是受到年化新保费按季强劲上升24%所推动。该行表示，集团在东盟市场有强劲复苏，第三季在新加坡及马来西亚的新业务价值按季增长逾倍，并明显高於去年同期水平，泰国亦同时亦录得强劲的按季增长，表现远优於该行估计的第三季及下半年录得双位数下跌。至於中国业务表现则较预期疲弱，因保障产品的需求尚未提升。
本网最新综合7间券商其投资评级及目标价：
券商│投资评级│目标价(港元)
中金│跑赢行业│95元
摩根大通│增持│94元
摩根士丹利│增持│87元
汇丰研究│买入│87元
高盛│买入(「确信买入」名单)│85元
美银证券│买入│81.85元
麦格理│中性│76元
-----------------
券商│观点
中金│公司长期新业务价值增速略有下行，但料对估值中枢影响有限
摩根大通│季绩大致符预期，筹建四川分公司地域扩张将成为主要催化剂
汇丰研究│随着内地疫情缓和及限制放宽，料新业务价值复苏势头增强
摩根士丹利│筹建四川分公司可确保长期增长，星马三季度新业务价值反弹强劲
高盛│东盟市场强劲复苏，惟内地表现差过市场预期
美银证券│季绩复苏，开始筹建四川分公司，料地域扩张可助销量增长
麦格理│预期短期新业务疲弱，直到明年才会强劲复苏
(ta/w)
~
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app！
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
