[ET Net News Agency, 21 July 2020] Huatai Research lifted its target price for CITIC
Securities (CITICS)(06030) to HK$18.68 from HK$15.63 and maintained its "hold" rating.
The research house believes CITICS could benefit more than small- to mid-sized brokers
from the capital market reforms, given its leading position in most business areas and
regulators' stance of supporting large, professional investment banks, and market-oriented
consolidation.
Huatai expects steady financial performance from CITICS due to its large and
comprehensive businesses and strong balance sheet. It lifted its 2020/21/22 net profit by
6.2%/4.1%/3.0% to factor in the more active market trading and impact of reforms. (KL)