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<Research>G Sachs Mildly Adds AIA's TP to $94, Chops PRU's TP to $147
Recommend 8 Positive 19 Negative 5 |
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According to a Goldman Sachs report, the broker, considering that the release of distributable profits will reach an inflection point in the context of recovering new business sales and rising US bond yields, expected the 2025-2027 return on equity for AIA (01299.HK) and PRU (02378.HK) to expand with an accelerated pace of capital generation to provide greater room for shareholder returns. Compared to European insurers, Goldman Sachs believed that the short-term shareholder return outlook for AIA and PRU was relatively low, partly reflecting the longer impact of the pandemic. The broker slightly added its target price for AIA from $93 to $94 and reiterated the Buy rating. It also reiterated a Buy rating on PRU, with a target price cut from $154 to $147. AAStocks Financial News |
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