大行评级|高盛:上调中国平安AH股目标价 维持“买入”评级

格隆汇
Sep 08, 2025
高盛发表研究报告指,中国平安公布今年上半年业绩后更新预估,将2025财年预估营运利润(OPAT)上调3%,反映了平安银行的更高贡献,以及财产险承保结果优于预期;将全年新业务价值(NBV)预估上调4%。 展望未来,高盛认为9月最新的产品重新定价可能带来利润率优势,因此将2026至2027财年NBV预估上调11%至12%,基于利润率预估提高2个百分点;同时将2025至2027财年寿险内含价值预估上调6%至7%。该行将2026至2027财年OPAT预估上调1%至3%。 高盛又基于12个月总和估值法(SOTP)的目标价,将H股目标价从58港元上调至61港元,A股目标价从65元上调至67元,维持“买入”评级。

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