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<Research>M Stanley Expects AIA (01299.HK) 1Q VONB Rev. Growth May Be Temporarily Pressured
Recommend 11 Positive 22 Negative 15 |
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Morgan Stanley released a research report estimating AIA (01299.HK) to report a 6.9% rise in VONB (at constant exchange rate (CER) basis) in 1Q25, mainly driven by a 7.3% increase in APE and flat gross profit at 54.2%. The broker believed that the slowdown is temporary, and continued to predict VONB growth of 12% for both 1H25 and for the whole 2025. Morgan Stanley considered the Company attractively valued. Therefore, the broker rated the Company at Overweight, with a target price of $81. China is a drag on growth, with VONB expected to fall by 8% due to assumption changes, according to the report. The broker projected growth on a comparable basis, and anticipated 2025 VONB growth to be around 10%. AAStocks Financial News |
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