[ET Net News Agency, 16 March 2021] Guotai Junan International lifted its target price
for AIA Group (01299) to HK$114.43 from HK$114 and maintained its "buy" rating.
The research house said AIA's 2020 VONB (value of new business) decline of 33.4% was
below market expectations. Impacted by the COVID-19 pandemic, all market segments recorded
a VONB decline. Considering 15% VONB growth in the first 2 months of 2021, Guotai Junan
expects AIA to experience recovery in most of its markets with mass vaccination underway.
Guotai Junan expects the downside is limited in 2021 as new business from MCVs has
little room to decline further. The mainland China market should also see more branches
approved in 2021, providing sufficient growth opportunities for AIA Group. (KL)
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01299 AIA
Nominal 
47.850 +1.050 (+2.244%) Research Report
16/03/2021 11:45
Guotai Junan lifts AIA Group (01299) to HK$114.43; "buy"
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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