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<Research>CICC: AIA Expects to Complete Shr Buyback Ahead of Schedule; Mgmt Outlook Could Lift Shr Price
Recommend 22 Positive 46 Negative 18 |
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After opening up 3.8% this morning, AIA (01299.HK) once leaped by 4.7% to a peak of $61.9. It last traded at $61, up 3.2%, on a turnover of $1.792 billion. According to CICC's report, AIA expressed confidence in achieving its target of a 9-11% CAGR in operating profit per share in 2023-26 in its results announcement. The group also revealed that the previously announced new US$1.6 billion share buyback program had already commenced on April 14, 2025, which is expected to be completed within three months, ahead of the timeline suggesting completion by 2025 as indicated in the annual results meeting. CICC believed that this reflected management's expectation of a potential rise in the group's share price, and that the results and the above conditions would provide strong support for its stock price. The broker kept its earnings forecast and Outperform rating unchanged for AIA, with a target price still at $74. AAStocks Financial News |
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