[ET Net News Agency, 1 November 2017] HSBC Global Research raised its target price for
China Huarong AMC (02799) to HK$4.1 from HK$3.7, but downgraded its rating from "buy" to
"hold" on valuation.
The research house thinks the distressed assets management sector could continue to
benefit from ongoing deleveraging and supply-side reform, which might lead to potential
formation of distressed assets or NPLs.
In the meantime, the growing interest of secondary market investors on distressed assets
and the rising interest rate environment could help sustain IRR/yield of traditional
distressed assets (TDA) and restructured distressed assets (RDA), the two key businesses
of asset management companies.
That said, the growing number of provincial AMCs and dedicated subsidiaries set up by
banks to deal with debt-equity swaps have and will continue to introduce more competition
into the sector. (KL)
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02799 CITIC FAMC
Nominal 
0.310 +0.010 (+3.333%) Others
01/11/2017 16:39
[I-bank focus]HSBC raises China Huarong (02799) to HK$4.1
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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