大行评级丨杰富瑞：上调富卫目标价至40.9港元，上半年业务增长加速

格隆汇08-28

杰富瑞发表研报指，富卫上半年业务增长加速，毛利率有所改善，且经营杠杆持续显现，香港需求保持韧性。虽然经济波动仍属拖累，但核心业务表现优于预期。当中，富卫中期年度化保费较该行预测高1%，新业务价值则较预期高15%，产品组合变化带动利润率提升。该行认为富卫的估值吸引，目标价由37.4港元上调至40.9港元，重申“买入”评级。

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