[ET Net News Agency, 19 November 2018] Credit Suisse hiked its target price for CICC
(03908) to HK$16.7 from HK$15.5 and maintained its "outperform" rating.
The research house said CICC's 9-month net profit of Rmb2.7bn represents 82% of Credit
Suisse's FY2018 forecast. Its 3Q ROE rose to 11%, the highest among the research house's
covered brokers (1-6% ROE in 3Q for the peers).
It believes that the structural growth of direct financing and the wave of the listing
of "New Economy" companies would continue to support CICC's IBD (Investment Banking
Department) outlook. In early November, the regulators announced to create a new tech
board in Shanghai Exchange, which could bring new business opportunities.
Credit Suisse lifted its 2018-20 EPS forecasts by 4-7% to reflect higher investment
return and IBD revenue. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
03908 CICC
Nominal 
10.400 +0.480 (+4.839%) Others
19/11/2018 11:40
[I-bank focus]Credit Suisse hikes CICC (03908) to HK$16.7
| Remark: | Real time quote last updated: 10/05/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |