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Express News | AIA Group Bought Back 8.2 Mln Shares for HK$425.9 Mln on July 26 - HKEX Filing
AIA (01299) spent 0.426 billion Hong Kong dollars on July 26th to buy back 8.23 million shares.
AIA (01299) announced that on July 26, 2024, the company will spend 0.426 billion Hong Kong dollars to repurchase...
Goldman Sachs reiterated its "buy" rating for AIA with a target price of HKD 92.
Goldman Sachs released a research report stating that it reaffirms its "buy" rating on AIA (01299) and includes it in its "conviction buy list" with a target price of HKD 92 based on the company's solid new business value growth, strong balance sheet and profit generation. The bank expects investors to revalue the current value after having a higher visibility of the company's post-tax surplus and free cash flow rebound and growth prospects. The report stated that AIA's stock price has fallen 22% since May 20, erasing the gains since the company announced its capital management policy and expanded stock buyback plan in April. The situation is believed to reflect the Hang Seng Index's decline and investors' continued focus on profit rebound and intrinsic value.
Furui: rated AIA as "buy" with a target price of HK$88.
According to a report released by Fubon, AIA (01299) has a "buy" rating, and it is expected that profits and growth in the first half of the year will roughly meet expectations with a target price of HKD 88. The bank has adjusted its after-tax operating profit (OPAT) and earnings per share forecasts by no more than 1%, reflecting higher growth in the second quarter than previously predicted, but lower growth in the second half of the year. Recently, the market's forecast for AIA has become more bullish, in stark contrast to the falling stock price, reflecting that the cost of equity is the primary factor driving the share price, rather than market expectations.
DBS has downgraded AIA's target price to HKD 86 while maintaining a "shareholding" rating.
Daiwa expects AIA (01299) to have a slight increase of 1% in pre-tax operating profit and dividends in the first half of the year.
AIA (01299.HK) spent HKD 0.419 billion to repurchase 8.179 million shares on July 25th.
On July 25th, Gelunhui announced that AIA (01299.HK) will spend 0.419 billion Hong Kong dollars to repurchase 8.179 million shares on July 25, 2024, with a repurchase price per share of 50.85-51.8 Hong Kong dollars.
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