CitiWarrants: AXA Asia Pacific Holdings Ltd
Citigroup Investment Research (CIR) lift their 12-month target price c10% from A$6.70 to A$7.30 and keep their Buy/ Medium risk call. Their spot valuation rises from A$5.15 to A$5.81ps and their EPS rise FY06E: +20%; FY07E: 6%; FY08E: +4%.
1H06 reported NPAT was A$304m vs. our A$220m estimate. Operating margins were mostly in line, while investment earnings were higher.
Their EPS changes largely reflect the higher than expected 1H06 outcome plus changes to normalised investment earnings in 2H06E and beyond.
Following 11% growth in 1H06, AXA looks odds-on to beat its 31 Dec 2007 Australia/NZ enterprise value stretch target by around A$1bn, even without allowing for a boost from the proposed super changes.
More : egoli.com.au
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Soure: bloomberg.com
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MarketcomPR today announced that it has been selected by H&Q Asia Pacific, a leading private equity firm that invests throughout the Asia Pacific region, as lead agency for communications in the U.S. In that role, MarketcomPR will develop communications initiatives to increase awareness of H&Q Asia Pacific among key audiences in the U.S., Europe and the Middle East including potential investors, deal sources, and potential partners.
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