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<Research>BofAS Trims CHINA OVERSEAS (00688.HK) TP to HKD14.5, Maintains Buy Rating
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BofA Securities released a research report covering CHINA OVERSEAS (00688.HK), which posted in-line 2025 results, with a full-year core profit of RMB12.8 billion, down 18.5% YoY, and a DPS of HKD0.5, down 16% YoY. Given that 2025 margin came in at the low end of expectations, the broker lowered its earnings forecasts for 2026-28 by 4-7%, expecting a slim downfall in earnings in 2026, followed by a margin-led rebound in 2027. The broker maintained Buy on the company. Considering the downward revision of earnings forecasts, it lowered the target price from HKD16 to HKD14.5. AASTOCKS Financial News Website: www.aastocks.com |
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