G Sachs Raises CITIC Securities TP to HKD29.95, Maintains Neutral Rating
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G Sachs has raised the target price for CITIC Securitiesfrom HKD28.13 to HKD29.95 while maintaining a Neutral rating on its H shares. The company reported a 1Q revenue of RMB23 billion and a net profit of RMB10 billion, showing YoY growth of 41% and 53%, respectively. G Sachs also increased its revenue and net profit forecasts for CITIC Securities for 2026 to 2028 by an average of 4% and 8%. The brokerage maintained a Buy rating on CITIC's A shares.
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