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<Research> UBS Lowers TP of CITIC Securities (06030.HK) to HKD35.6, Reiterates 'Buy' Rating
Recommend 5 Positive 3 Negative 3 |
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UBS released a research report indicating that CITIC Securities (06030.HK) saw its operating revenue and net profit after tax grow by 29% and 39% year-on-year, respectively, last year, roughly in line with preliminary results. Excluding perpetual bonds, the return on equity for shareholders increased by 2.5 percentage points year-on-year to 10.6%, and the adjusted leverage ratio rose to about 4.8 times, both marking the second highest in a decade, only surpassed by the peak in 2021. The company declared a dividend of RMB0.7, with a payout ratio of approximately 36%. UBS, after considering CITIC Securities' performance last year, slightly adjusted its net profit after tax forecast for 2026 to 2028 by 0% to 3%, and lowered the target price for CITIC Securities H-shares from HKD37.7 to HKD35.6, maintaining a 'Buy' rating. (sl/da) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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