[ET Net News Agency, 12 January 2018] Credit Suisse initiated coverage on Guotai Junan
Securities (GTJA)(02611) with an "outperform" rating and a target price of
HK$22.
The research house said that GTJA leads the peers in business scale, innovation and
financial performance and its competitiveness has been further enhanced by the disposal of
GTJA-Allianz Fund and investment in HuaAn Fund.
It believes that GTJA's solid record in regulatory rating and strengthened capital
position after H-share IPO will likely help it to capture new business opportunities, ride
through volatilities and support its long-term development.
Credit Suisse forecast 11% YoY earnings growth and 8% ROE in 2018. (KL)