Morgan Stanley resumed coverage on Huatai Securities (HTSC)(06886) with an "overweight" rating and target price of HK$15.1.
The research house favors its better-than-peers' technology and commitment to business reform in wealth management. It believes that reform initiatives on wealth and asset management business could also boost ROE Strong technology platform.
Morgan said the HTSC's H-shares are trading at 0.8x 2020 P/B, relatively attractive versus A-shares at 1.4x.
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