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<Research>DBS Lifts CITIC BANK (00998.HK) TP to $5.1; Div. Yield Higher Than Peers
Recommend 8 Positive 9 Negative 4 |
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CITIC BANK (00998.HK)'s 1H net profit slid 1.6% YoY to RMB35.5 billion, aligning with expectations, while its revenue and pre-provision operating profit hiked 2.7% and 1.4% YoY respectively, with a NPL ratio rising 1 bp HoH to 1.19%, suggesting a stable risk portfolio, according to a report from DBS Group Research. DBS Group Research maintained its 2024-2026 earnings forecasts for CITIC BANK largely unchanged, while raising the TP from $4.9 to $5.1, with a Buy rating remaining in place. The broker also mentioned that CITIC BANK's share dividend yield is 8.4% for 2024, higher than that of its peers. AAStocks Financial News |
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