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GUANGDONG INV Closes Up 4.2% at Midday as Citi Adds TP to $9
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GUANGDONG INV (00270.HK) opened 1.02% higher today, and peaked at $8.27. It leaped 4.22% to close at $8.15 at noon, with a trading volume of 19.2254 million shares, involving $155 million. Citi Research issued a research report raising its earnings forecasts for GUANGDONG INV, and its 2026/ 2027 net profit forecasts by 5.1%/ 8.2% each, reflecting the 2025 results and the inclusion of new China water projects. GUANGDONG INV's net profit in 2025 grew by 48.2% YoY to $4.656 billion, mainly benefiting from the absence of related losses after the sale of GD LAND (00124.HK) in January 2025 and the repayment of $2.25 billion debt, reducing financial costs by $282 million, Citi Research noted. Therefore, the broker added its target price for GUANGDONG INV from $8.8 to $9, with rating kept at Buy, and considered it as its top pick among Hong Kong utilities due to its forecasted dividend yield of 6.1% in 2026, the highest among peers. AASTOCKS Financial News Website: www.aastocks.com |
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