[ET Net News Agency, 12 April 2018] Daiwa Research lowered its target price for Haitong
Securities (HTS)(06837) to HK$13.4 from HK$14.5 to reflect its earnings cut, but upgraded
its rating to "buy" from "outperform" noting better operating trends in all its
subsidiaries.
The research house believes HTS' financial conglomerate layout is in better shape now,
and expects better earnings from its major subsidiaries in 2018. Its current low
valuations in both relative and absolute terms also add to its appeal.
Daiwa sees a brighter outlook in 2018 as its major subsidiaries act as key drivers. Its
four key subsidiaries contributed 32% to pre-tax profit in 2017, up from 24% in 2016;
Daiwa expects this to rise to 39% in 2018.
It lowered its 2018-19 EPS forecasts by 9-14% on the recent retreat of the A-share
market and higher finance costs. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
06837 HAITONG SEC
Nominal 
3.850 +0.200 (+5.479%) Others
12/04/2018 10:24
[I-bank focus]Daiwa lowers Haitong Sec (06837) to HK$13.4
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| 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 |