Citi Initiates CHOW TAI FOOK CREATION with Buy, Riding Growth Tailwinds of Hong Kong Insurance Sector
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Citi has initiated coverage on CHOW TAI FOOK CREATIONwith a Buy rating and a target price of HKD10.6. The report highlights the company's stable dividend policy, strong premium income growth from CTF Life, and improved trading liquidity since joining the Stock Connect. Citi believes the stock's dividend support and growth prospects in the insurance sector mitigate downside risks. Management's capital recycling efforts have generated over HKD300 million in 1HFY2026, with potential future disposals estimated at HKD3 billion to HKD4 billion. The newly acquired logistics properties are expected to enhance operating profit this year.
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