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<Research>UBS Attributes AIA (01299.HK) Shr Price Drop Last Wk to Profit-taking; Firm Still Beneficiary of CN Deposit Migration
Recommend 6 Positive 9 Negative 6 |
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AIA (01299.HK)'s stock price fell by 8% over the two trading days of last Thursday and Friday (5 and 6 February), UBS released a research report saying. However, no specific news regarding the Company was found. The adjustment might be due to profit-taking by investors after the Group outperformed the HSI by 13 ppts over the past 2 months. Some investors viewed buy-the-dip opportunity, as AIA's 2025 results are expected to be solid and positive medium to long-term outlook. Given the high base created by temporary factors such as regulatory changes in Thailand and Hong Kong last year, some investors expressed concerns about the growth pressure on new business value this year, UBS added. However, the broker still emphasized the growth opportunities from the migration of deposits from mainland China. Although bancassurance is not AIA's focus, it can still seize opportunities through its elite agent team targeting middle class/affluent clients, offering mainland Chinese tourists a broader range of investment options and higher expected returns with Hong Kong insurance products. Given AIA's emphasis on protection products and strong distribution capabilities, it is likely to be a major beneficiary. Therefore, UBS rated AIA at Buy, with a target price of $106. AASTOCKS Financial News Website: www.aastocks.com |
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