[ET Net News Agency, 2 November 2018] Credit Suisse lowered its target price for Value
Partners (VP)(00806) to HK$6.6 from HK$7.5 after rolled-over valuation and reflecting
market volatilities, and maintained its "neutral" rating.
The research house said VP continued to grow its presence both in China and globally,
through various product launches and overseas office openings. With the fixed income
product groundwork almost established, VP has started to focus on alternative product
offerings.
Credit Suisse cut its 2018-20 EPS forecasts by 30-34%. It noted that the stock currently
trades at 6.8% P/AuM, lower than three-year average of 9.5%. (KL)