[ET Net News Agency, 22 October 2020] J.P. Morgan lowered its target price for AIA
Group (01299) to HK$94 from HK$96 reflecting weak business trends in 2H. It maintained its
"overweight" rating as potential upside catalysts do not look fully in the price.
AIA is scheduled to report 3Q operational data on 9 November. The research house
forecast that the company's NBV (new business value) in FY2021 will recover to FY2019
levels (US$4bn) even with a "zero" volume assumption for HK's offshore life sales.
JPM forecast -29%/-12%/+39% NBV growth in 3Q/4Q/FY2021 respectively. (KL)