＜Research＞M Stanley Cuts TP of AIA (01299.HK) to $86, Expects 1H24 VONB Growth Stable

　　AIA (01299.HK) +1.050 (+2.065%) Short selling $480.85M; Ratio 24.041% is expected to deliver steady 1H24 value of new business (VONB) growth of 21% on an actual exchange rate (AER) basis and 23% on a constant exchange rate (CER) basis, benefiting from strong growth in Mainland China and Hong Kong, despite the expected slowdown in 2Q24, according to a research report from Morgan Stanley.

　　AIA's Key financial metrics are likely to be broadly flat due to foreign exchange headwinds and a modest amount of negative investment variances, said Morgan. The broker expected the group's first-half operating profit after tax and dividend to grow marginally by 1%.

　　Related NewsCiti Expects AIA (01299.HK) 1H24 VONB to Rise 24% YoY at Constant Exchange Rate, Cuts TP to $99

　　The broker rated AIA Overweight and dropped its target price from $94 to $86.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-25 16:25.)

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