[ET Net News Agency, 17 November 2020] HSBC Global Research maintained its target price
for Guotai Junan International (GTJAI) (01788) unchanged at HK$1.34 but upgraded its
rating to "buy" from "hold".
The research house said GTJAI, the Hong Kong subsidiary of GTJA Securities (02611) is
likely to report solid 3Q results, in view of its parent company's 283% growth in minority
interest in 3Q.
HSBC said the Hong Kong stock market condition was also favourable to brokers, as the
average daily turnover (ADT) surged 83% to HK$140bn in 3Q. It said the stock is trading at
its historical low of 0.6x 2021 PB, versus its five-year average of 1.7x. Dividend yield
of 8.1% for 2021 looks attractive at the moment. (KL)
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01788 GUOTAI JUNAN I
Nominal 
0.560 +0.020 (+3.704%) Research Report
17/11/2020 17:30
{I-bank focus}HSBC upgrades Guotai Junan (01788) to "buy"
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