该行认为，投资者应关注保诚管理层对于增长动力及外汇对上半年业绩影响的意见。另外，该行留意到保诚预期在明年首季转而采用传统内含价值(TEV)，应可减低年内经济预期改变带来的影响。而管理层也重申他们对于在2022年至2027年录得经营自由盈余双位数增长。Prudential (02378) management also reiterated their double-digit growth in operating free surplus in the period from 2022 to 2027.
According to the news app Zhitong Finance, Goldman Sachs released a research report stating that they give a "buy" rating to Prudential (02378) with a target price of HK$154.
The report stated that the company's new business profit (NBP) and operating surplus in the first half of this year are in line with expectations, but the negative economic impact and differences in investment returns have led to a significant decline in net profit. Shareholder returns and other key financial indicators, including operating free surplus and adjusted contract service margin release (CSM), are lower than expected.
The bank believes that investors should pay attention to Prudential management's views on growth drivers and the impact of foreign exchange on first-half performance. In addition, the bank noted that Prudential is expected to switch to traditional embedded value (TEV) in the first quarter of next year, which should reduce the impact of changes in economic expectations during the year. The management also reiterated their double-digit growth in operating free surplus in the period from 2022 to 2027.
