[ET Net News Agency, 16 October 2018] Goldman Sachs lowered its target price for AIA
Group (01299) to HK$78 from HK$80, and maintained its "buy" rating.
The research house said AIA's share price has declined 5% since its 1H results. As seen
in previous years (2013/14, 2015), share price corrections for AIA driven by macro
concerns usually present investors with more attractive risk/reward and good entry points,
as underlying secular growth drivers remained intact.
Goldman expects AIA's share price to show a higher correlation with its underlying
VONB/EV growth once macro concerns stabilize. Going into 3Q results, Goldman believes VONB
growth is unlikely to recover significantly from 2Q and forecast 15% yoy growth on a
constant exchange rate (CER) basis and 14% on an actual exchange rate (AER) basis (versus
14% and 18% in 2Q respectively).
It reduced its FY2018-20 EPS forecasts by 4-21%, after marking-to-market equity
investment losses, lower bond value, and USD appreciation. (KL)
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01299 AIA
Nominal 
48.750 +0.600 (+1.246%) Others
16/10/2018 16:02
[I-bank focus]Goldman lowers AIA Group (01299) to HK$78
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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