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<Research>Citi Raises CITIC's TP to HKD13.4; 2025 Results Slightly Beat
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According to a Citi report, CITIC (00267.HK) achieved a growth of 1% YoY in net profit to RMB58.7 billion, 2% higher than the broker's expectations, despite last year's challenging operating environment. The company's dividend payout ratio increased from 27.5% to 29%, exceeding guidance by 1 ppt. Citi believes that the management remains committed to increasing the payout ratio again in 2026, provided there are no unforeseen circumstances. Citi has raised its target price for CITIC from HKD13 to HKD13.4, estimating a dividend yield of about 6% for 2026, which could provide significant downside protection for investors. CITIC's rating remains Buy. AAStocks Financial News |
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