[ET Net News Agency, 18 December 2019] Daiwa Research raised its target price for
Guotai Junan Securities (GTJA)(02611) to HK$18 from HK$17.7 and maintained its "buy"
rating.
The research house expects GTJA's ROE (return on equity) to embark on an uptrend from
2019, supported by the company's advantage in funding cost, rising capital efficiency, and
disciplined pricing.
Daiwa said GTJA was among the top securities firms that were given the green light by
the PBOC in June 2019 to issue finance bonds and received a lift in the cap for
outstanding short-term notes.
Daiwa revised down its 2019-20 EPS forecasts by 0-15% to reflect the sector-wide
moderation in growth of brokerage and investment gains since our previous update in June.
(KL)
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02611 GTJA
Nominal 
7.810 -0.030 (-0.383%) Others
18/12/2019 10:24
{I-bank focus}Daiwa raises GTJA (02611) to HK$18: "buy"
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