[ET Net News Agency, 30 August 2019] Citi Research lowered its target price for CITIC
Ltd (00267) to HK$9.55 from HK$10.65, reflecting the latest market value of its listed
subsidiaries and the depreciated RMB.
But the research house upgraded its rating to "neutral" from "sell" purely driven by
valuations.
Citi said CITIC's 1H PBT of HK$57.1bn accounted for 60% of Citi's prior FY2019 estimate.
(KL)