大行评级丨高盛:微降友邦保险目标价至96港元,下调2026至28财年新业务价值预测

格隆汇
6 hours ago
高盛发表报告指,友邦保险上半年香港销售表现逊预期,主要受内地访客(MCV)业务的高基数效应影响,而本地业务则展现强劲增长动力。该行认为,高基数影响已被充分预告,市场短期焦点将落在第三季业绩,作为投资者评估各项监管公布对客户需求影响的首个数据点。高盛因应上半年业绩更新预测,2026至2028财年新业务价值(VONB)预测下调2%至3%,主要反映香港销售较弱,部分被东盟市场强劲势头所抵销;并因债券组合未实现亏损,下调2026至2028财年账面值预测5%至7%。该行认为,近期股价已反映MCV销售遇到结构性干扰,增长放缓料属暂时性,风险回报吸引,将12个月目标价由97港元下调至96港元,维持“买入”评级。

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