[ET Net News Agency, 18 May 2020] Huatai Research initiated coverage on CITIC
Securities (CITICS)(06030) with a "hold" rating and target price of HK$15.63.
The research house noted that CITICS is large and comprehensive, with the potential to
become a flagship investment bank. Meanwhile, its good ROE performance with a leading
position in most areas. The company is trading at a fair valuation.
Huatai said China's attempt to rebalance its financial system will give brokers
significant development opportunities. (KL)