Movement Alert|AIA Group Rises 3.17% in Regular Trading, Citi Forecasts H1 New Business Value Up 14% and Maintains Buy Rating

Market Focus07-15

On July 15, AIA Group rose 3.17% in regular trading, trading at 76.3 HKD/share, with turnover of 540 million HKD. The gain follows a bullish research note from Citi published the previous day.

Citi maintained its Buy rating on AIA Group with a target price of 103 HKD, forecasting the company's first-half new business value (VONB) to grow 14% year-over-year to USD 3.232 billion on a reported exchange rate basis. The bank expects China and Hong Kong VONB to rise 19% and 13% respectively on a constant exchange rate basis despite high base effects. After incorporating share buybacks, Citi projects per-share operating profit to grow 11% year-over-year, with interim dividend per share rising 12%. Citi also raised its FY2026-2028 EPS estimates by 5%, 2%, and 2% respectively, primarily reflecting higher net investment income assumptions. AIA is expected to report H1 results on August 20.

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