Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
00267 CITIC
RTNominal down7.520 -0.060 (-0.792%)
Research Report

12/01/2021 17:15

{I-bank focus}Goldman lowers CITIC Ltd. (00267) to HK$6.7

[ET Net News Agency, 12 January 2021] Goldman Sachs lowered its target price for CITIC
Ltd. (00267) to HK$6.7 from HK$9.8 and maintained its "neutral" rating.
The research house cited CITIC management from an analyst meeting sounding cautiously
optimistic about a business recovery in selective divisions from COVID-19 in recent
months, e.g. pickup in market activities for securities, higher steel and iron ore prices
toward year-end.
Goldman said the Rmb100bn net profit target by 2025 implies 14% CAGR from Goldman's
projected Rmb51bn earnings for CITIC in FY2020. Considering that 76% of group earnings
still come from the low-growth financial services businesses, it would have to deliver
significant growth from its non-financial businesses to make up the difference.
Despite the dividend cut in the first half due to unusual circumstances, management
guided that they will try to maintain a steady dividend for the full year, which if true,
would imply an 8.1% dividend yield based on the current share price.
Goldman raised its FY2020-22 EPS forecasts for CITIC by 1-7%. (KL)

Remark: Real time quote last updated: 28/03/2024 18:00
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.