大行評級|高盛:上調多隻內地保險股目標價 中期盈利增長勝預期
高盛發表報吿指,受惠於第二季強勁的投資表現,內地保險公司於上半年的利潤增長均勝預期。大多數壽險公司的新業務價值增長亦意外上升,反映利潤率擴張幅度大過預期。展望未來,由於基數效應較低,該行預期大多數壽險公司在下半年將維持增長。投資者焦點可能轉向為2024財政年度的股息及資產負債表實力;產品重新定價及代理渠道費用規管對2025財政年度銷售的潛在干擾;及產品組合轉向分紅產品。
該行給予中國人壽“買入”評級,目標價由13港元升至13.5港元,因其資產負債表強勁。該行給予中國平安“買入”評級及目標價41港元,因其壽險盈利質素較高;以及給予中國人保集團“買入”評級,目標價由3.5港元升至3.6港元。
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