[ET Net News Agency, 28 May 2021] Daiwa raised its target price for China Merchants
Bank (03968) to HK$80 from HK$70 and maintained its "buy" rating.
The research house said unlike some analysts who are concerned about contenders for
CMB's retail business, it believes CMB's strength lies in not only distribution or
incentives but also management and culture, which can hardly be copied. (RC)