《大行報告》摩通:中國平安(02318.HK)聯席CEO變更 倘股價走弱則屬收集良機
摩根大通發表報告指,中國平安(02318.HK)聯席首席執行官陳心穎辭職,由現任首席人力資源執行官郭曉濤接任。該行參考過去十五年中國或亞洲保險公司高管變動的經驗,指是次變動或為投資者社群帶來不明朗,投資者希望新任聯席首席執行官,展現在業務增長及提升公司價值方面的能力,然後給予信任。
該行認為,平保的核心償付能力比率,在6月底保持169%的足夠水平,支持業務及派息增長。壽險業務受惠於完成改革,將會持續復甦。目前估值相當於預測2024財年市盈率5倍、預測股息率6.3%,並不昂貴,在壽險業務維持穩定增長下,倘股價走弱則屬收集良機,評級「增持」,目標價77元。
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