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<Research>JPM Expects GTJA's M&A of HAITONG SEC Via Shr Exchanges to Lift Industry Sentiment in Near-Term
Recommend 10 Positive 6 Negative 13 |
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JPMorgan commented in its recent report that GTJA (02611.HK)'s announcement of acquiring HAITONG SEC (06837.HK) through share exchanges is expected to inevitably dilute GTJA's ROE and EPS, but it, if successful, will be another symbolic M&A in the industry following the merger of Shenyin & Wanguo Securities and Hongyuan Securities in 2014. JPMorgan added that this M&A can help boost the industry sentiment in the short term. It believes there will be more similar transactions in the foreseeable future. The broker maintained a Neutral rating on GTJA with a TP of $8.1. AAStocks Financial News |
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