《大行報告》大和料友邦(01299.HK)上季新業務價值按年增6% 評級「買入」
大和發表研究報告,以實際匯率計,預期友邦保險(01299.HK)2021年新業務價值料按年穩健增長17%至32.4億美元,意味去年末季按年升6%;內含價值按年增長8%,股東應佔除稅後經營溢利按年增長9%,派息按年增長9%。該行對友邦重申「買入」評級,目標價142元。
報告指,友邦在內地成功吸納代理人員,預計香港業務中第三季的新業務價值利潤率和首年保費收入正面勢頭,在第四季持續;另相信東盟地區業務隨著防疫措施放鬆,在去年第四季經營環境較去年首九個月改善。
大和表示,由於香港實施最新一輪社交距離措施,以及延遲與內地重新開放關口,將2022年新業務價值預測從40億美元下調至38億美元,最新預測假設2022年6月通關。因應新業務價值預測下調,大和將友邦2021至2022年的內含價值和除稅後股東應佔經營溢利預測下調了1%至3%,並因應投資,將友邦2021至2023年每股盈測下調0%至5%。
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