Morgan Stanley released a research report stating that due to better-than-expected investment and operational differences, it raised the forecasted intrinsic value per share of AIA (01299) from the year 2021 to 2026 by 4% to 5%, and raised the target price from HKD 86 to HKD 88, with a rating of "shareholding".
The bank indicated that AIA's forecasted growth in new business value for this year has been raised from 19% to 21% at a fixed exchange rate, reflecting higher growth trends in Southeast Asia, Mainland China, and Hong Kong. It has also raised the forecasted earnings per share for the same period by 1%. Morgan Stanley noticed catalysts for the stock, such as AIA's further expansion into new provinces in Mainland China, higher growth in Hong Kong and Southeast Asian markets, and improvement in the company's key financial indicators.