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2024-04-25 12:47:36 Morgan Stanley released a technical research report on AIA (01299.HK), suggesting that there is a 60% to 70% chance for AIA's share price to rise within 30 days. The broker gave it a target price of $94 and an Overweight rating. According to the report, AIA's share price has overly corrected recently, and its fundamentals are still sound. The company's current valuation is equivalent to about 1x 2024 projected share price to embedded value ratio, which is attractive. Core financials have gradually returned to growth from this year onwards. The balance sheet remained strong, with reliable embedded value continuing to support the book value. While some investors were concerned about a further crackdown on the Mainland Chinese Visitor (MCV) insurance business in Hong Kong, the broker expected such impact to be limited, as Hong Kong's regulators are aiming to standardise market order and there is no risk of further tightening of capital controls. AIA will announce its 1Q results before the market opens on 29 April. Morgan Stanley expected its value of new business to grow by around 20%, with YoY margins expansion. ~ AAStocks Financial News Web Site: www.aastocks.com | |