[ET Net News Agency, 9 May 2018] Morgan Stanley slashed its target price for GF
Securities (01776) to HK$17.7 from HK$22.74, and retained its "overweight" rating.
The research house is less optimistic on brokers' 2018 outlook, considering a relatively
challenging market environment with new rules from regulators. The tight regulatory
conditions also pressure brokers to continue reforming with more standardized asset
management and investment banking businesses.
Morgan said GF's operations are more flexible and market-oriented, with its distinctive
non-SOE shareholding background among major brokers partly contributing to its higher ROE.
Its strong asset management business could continue to be a revenue driver in 2017 and
2018. Proprietary roboadvisory platform Beta Bull could pay off over the long term. (KL)
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01776 GF SEC
Nominal 
7.450 +0.110 (+1.499%) Others
09/05/2018 15:35
[I-bank focus]Morgan slashes GF Sec (01776) to HK$17.7
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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