[ET Net News Agency, 21 January 2021] Morgan Stanley raised its target price for GF
Securities (GFS) (01776) to HK$15.48 from HK$11.93 and upgraded its rating to "overweight"
from "underweight" ".
The research house said its previous downgrade of GFS was based on the penalties from
the suspension of the investment banking business. Morgan thinks the effects are now
priced in as GFS is gradually moving out of the business suspension period.
In addition, it noted GFS's shareholders have been buying GFS stock to increase their
stakeholdings, per HKEx disclosures, providing support for its share price. Morgan sees
near-term tactical opportunities for GFS, fueled by southbound flows.
Morgan raised its 2021-23 NPAT for GFS by 8%-11% to reflect its potentially lower
operating expenses amid business clean-up post-Kangmei and potentially some higher growth
in its asset management businesses. (KL)
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01776 GF SEC
Nominal 
7.290 -0.080 (-1.085%) Others
21/01/2021 14:26
{I-bank focus}Morgan lifts GF Securities (01776) to HK$15.48
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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