策略观点:非银的弹性有望逐步增加本周保险板块表现较强,直接影响因素是政策和风格。我们认为金融板块的行情可能从银行轮动到非银。保险估值性价比更好,一旦出现政策催化,有望率先表现出弹性。后续如果指数突破,券商也会有表现。2021-2023年非银PB下降速度远快于ROE下降速度,这一点和银行较为类似,因此理论上也存在较大的估值修复空间。动态来看,由于非银当前估值水平仍在长期趋势以下偏低位置。而非银基本面...
Source Link策略观点:非银的弹性有望逐步增加本周保险板块表现较强,直接影响因素是政策和风格。我们认为金融板块的行情可能从银行轮动到非银。保险估值性价比更好,一旦出现政策催化,有望率先表现出弹性。后续如果指数突破,券商也会有表现。2021-2023年非银PB下降速度远快于ROE下降速度,这一点和银行较为类似,因此理论上也存在较大的估值修复空间。动态来看,由于非银当前估值水平仍在长期趋势以下偏低位置。而非银基本面...
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