[ET Net News Agency, 20 April 2018] Credit Suisse lifted its target price for AIA Group
(01299) to HK$81 from HK$77, and reiterated its "outperform" rating.
AIA will release 1Q results on 4 May. The research house estimated 21% VNB growth (+17%
on CER basis) in 1Q on the re-stated base (January-March 2018). It expects VNB momentum to
stay strong in China, indicated by 43% total premium growth in 2-month 2018, and to
outpace domestic peers.
Despite a high base, HK growth should gradually turn positive after CNY. Credit Suisse
sees continued solid growth in Malaysia and other markets. However, growth was mild in
Thailand and Singapore.
Credit Suisse lifted its EPS forecasts by 3%, factoring in solid 1Q trend and regional
equity/FX. (KL)