Tiger Brokers

Morgan Stanley Affirms Overweight Rating on AIA, Citing Robust Q1 Results to Bolster Market Confidence

Stock News
Apr 30

Morgan Stanley has issued a research report stating that AIA's (01299) first-quarter new business value (VNB) grew by 13%, exceeding both the bank's and market expectations. The Hong Kong business saw a 21% increase in VNB, driven by growth in both local and mainland visitor segments. The China business was the strongest performer, with VNB rising 26% year-on-year. The Thailand business declined by 18% annually, but a strong VNB recovery is anticipated in the second quarter as the base normalizes. The bank views AIA's first-quarter performance as very healthy, which should further solidify market confidence in achieving mid-teens growth for the full year. Morgan Stanley maintains an "Overweight" rating on AIA with a target price of HK$109.

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