Goldman Sachs released a research report sayingcararcadegame, considering that the risks and rewards will become more attractive after the stock price declines, maintain the "Buy" rating of AIA (01299), continue to be included in the convinced buy list, with a target price of HK$98, and expect a compound annual growth rate of after-tax operating profit from 2024 to 2026. 11%, and the total shareholder return this year is US$5.2 billion (taking into account dividends and repurchase), implying a yield of 7cararcadegame.7%, or provide short-term support for stock prices.
The report stated that the company will release operating data for the first quarter before the market opens on the 29th of this month. It is expected that the value of new business will maintain strong growth, with an increase of 23% at fixed exchange rates and an increase of 19% at real exchange rates, mainly driven by strong growth in China Hong Kong, the mainland and Thailand. AIA's share price has fallen by 28% since announcing its 2023 annual results. The current price is equivalent to 1.5 times this year's forecast P/B ratio, which is 1.2 times and 1.3 times respectively compared with life insurance peers in Europe and the United States. This is believed to reflect investors 'concern about shareholder return policies and the growth performance of its mainland business. The bank believes that the company needs to disclose more future shareholder returns and the impact of interest rate cuts on its mainland business.