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00665 HAITONG INT'L
RTNominal up2.010 +0.040 (+2.030%)
Others

27/08/2019 14:28

{I-bank focus}HSBC cuts Haitong Int'l (00665) to HK$2.7

[ET Net News Agency, 26 August 2019] HSBC Global Research cut its target price for
Haitong International Securities (HTI)(00665) to HK$2.7 from HK$3.7 and maintained its
"buy" rating.
The research house said HTI's 1H net profit of HK$1,039m was largely driven by a
recovery of the trading and market-making income owing to the strong performance in the
offshore bond market.
HSBC believes there are some delays in revenue booking and expects to see a pick-up in
2H as HTI has continued to win market share in Hong Kong. Going forward, HSBC expects a
slower rate of growth in its interest income. It cut its 2019-2021 earnings estimates by
12-21% due to a lower market ADT assumption. (KL)

Remark: Real time quote last updated: 02/04/2020 17:59
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