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<Research>Citi Elevates HKEX (00388.HK) TP to $275, Keeps Rating at Sell on Unattractive Valuation
Recommend 19 Positive 21 Negative 20 |
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HKEX (00388.HK) will announce its 3Q24 results next week, Citi Research issued a research report saying. The broker forecasted profit attributable to shareholders to be $3.3 billion for the period, up 11% YoY and 4% QoQ, mainly driven by strong investment income. Considering stable earnings outlook for FY2024-FY2026, valuation seems unattractive. Therefore, Citi Research raised its FY2024-FY2026 EPS forecasts for HKEX by 6-11%, and kept rating at Sell. The broker also elevated its target price from $215 to $275. AAStocks Financial News |
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