---
title: "Goldman Sachs raises GF SECURITIES target price to 18.26 yuan, rating \"Neutral\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281971327.md"
description: "Goldman Sachs raised the target price for GF SECURITIES to HKD 18.26, with a rating of \"Neutral.\" It is expected that the revenue and net profit for the fiscal year 2025 will be RMB 35 billion and RMB 15 billion, respectively, with annual growth of 30% and 43%. The core asset management business performed well, with an annual growth of 13%. Adjustments were made to the revenue and profit forecasts for 2026 to 2028, with the target price for A-shares raised from RMB 29.18 to RMB 29.31, and the target price for H-shares raised from HKD 18.17 to HKD 18.26"
datetime: "2026-04-08T04:06:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281971327.md)
  - [en](https://longbridge.com/en/news/281971327.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281971327.md)
---

# Goldman Sachs raises GF SECURITIES target price to 18.26 yuan, rating "Neutral"

Goldman Sachs published a research report indicating that GF Securities (01776.HK) will have strong performance in the fiscal year 2025, with revenue and net profit expected to be RMB 35 billion and RMB 15 billion respectively, representing year-on-year growth of 30% and 43%, slightly below the bank's expectations, mainly affected by market volatility in the fourth quarter impacting brokerage and investment businesses. However, the core asset management business showed resilience, growing 13% year-on-year, benefiting from the strong growth in assets under management (AUM) of its subsidiaries, GF Fund and E Fund.

Goldman Sachs stated that taking into account the fourth quarter performance and management guidance, it has adjusted its average revenue and profit forecasts for GF Securities for 2026 to 2028, raising revenue estimates by 3% and lowering profit estimates by 1%. The bank maintains a "Buy" rating for A-shares and a "Neutral" rating for H-shares, and has rolled the valuation benchmark year from 2026 to 2027. Based on unchanged target price-to-earnings ratios of 14 times and 8 times, the target price for GF Securities A-shares (000776.SZ) has been raised from RMB 29.18 to RMB 29.31, and the target price for H-shares has been raised from HKD 18.17 to HKD 18.26

### Related Stocks

- [01776.HK](https://longbridge.com/en/quote/01776.HK.md)
- [512880.CN](https://longbridge.com/en/quote/512880.CN.md)
- [000776.CN](https://longbridge.com/en/quote/000776.CN.md)
- [512000.CN](https://longbridge.com/en/quote/512000.CN.md)
- [159842.CN](https://longbridge.com/en/quote/159842.CN.md)

## Related News & Research

- [GF Securities Unveils Audited 2025 Results and Confirms Cash Dividend Payout](https://longbridge.com/en/news/281031946.md)
- [GF Securities Remains a Buy on China International Capital (CNICF)](https://longbridge.com/en/news/281482597.md)
- [Morgans Reaffirms Their Buy Rating on Shape Australia Corporation Limited (SHA)](https://longbridge.com/en/news/286714508.md)
- [Orca Energy Group Provides Update on Management Cease Trade Order and Further Filing Delay](https://longbridge.com/en/news/286977391.md)
- [Investeringsforeningen Nykredit Invest Balance suspender handel med udvalgte afdelinger](https://longbridge.com/en/news/286877547.md)