研報掘金|華泰證券:下調友邦保險目標價至85港元 維持“買入”評級
華泰證券發表報吿指,友邦保險去年每股盈利0.62美元,高於該行預測0.56美元,主要因投資收益超預期;去年友邦新業務價值按年提升18%(不變匯率),表現穩定;每股營運利潤按年提升12%(不變匯率),表現較好。此次業績再次宣佈16億美元回購,其中6億美元屬於常規資本回報計劃,10億美元屬於新增回購。2025年的合計回購金額達23億美元,加上24億美元的上年分紅,以年初價格計算的股息率達到 6%,具備高息股特徵。
考慮到投資波動,華泰證券調整對友邦2025至2027年每股盈利預測至0.63、0.7及0.78美元,考慮到增長的不確定性,小幅下調了公司的NBV增長預期。該行對其目標價由90港元下調至85港元,維持“買入”評級。
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