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大行評級 | 高盛:下調友邦(1299.HK)目標價至101港元 評級買入
格隆匯3月24日丨高盛將友邦(1299.HK)目標價由105港元下調至101港元,評級“買入”,續列於確信買入名單。該行認爲友邦去年下半年在內地的毛利率下降主要反映了儲蓄產品組合的增加,因爲高利潤率的危疾產品的銷售受到可支配收入增長放緩的負面影響,繼續預計今年第一季按年錄得雙位數下降。 高盛認爲,友邦宣佈的100億美元的回購,將主要讓友邦在未來三年內充分利用自由現金盈餘,若全部回購金額實施,預計2024年自由現金盈餘爲150億美元,而 2021年爲170億美元,到2024的經營股本回報率將從2021的10%擴大至13%。
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