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<Research>HSBC Research Estimates AIA (01299.HK) 2024 VONB to Hike 17%; Sustainable Growth Underappreciated
Recommend 15 Positive 36 Negative 16 |
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AIA (01299.HK) and PRU (02378.HK) are both underperforming, despite good progress, HSBC Global Research issued a research report saying. The broker believed that investors are keen to see sustainable VONB growth that translates into improvements in cash, earnings and DPS, given the macro risks. HSBC Global Research kept ratings at Buy for both firms as their PEV and PE ratios are at multi-year lows, and believed that the sustainable growth of the two companies is underestimated. Therefore, the broker kept its target price on AIA at $98, and chopped its target price for PRU to $116 from $121. HSBC Global Research forecasted 2024 VONB of AIA/ PRU to increase by 17%/ 1% YoY to US$4.7 billion/ US$3.2 billion, with double-digit growth in VONB from Hong Kong, mainland China and other markets for AIA. AAStocks Financial News |
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