[ET Net News Agency, 21 January 2021] Morgan Stanley raised its target price for China
International Capital Corp (CICC) (03908) to HK$29.95 from HK$25.12 and maintained its
"overweight" rating.
The research house said CICC remains its top pick among the H-share Chinese brokers. Its
strong project pipeline, especially in new economy companies, and solid client base in
foreign listed companies prepare it well for opportunities in investment banking.
CICC's new strategy is potentially accretive to ROE of 0.2-0.8ppt in one year, which is
not yet priced in. It owns a strong franchise in cross-border and derivatives business,
which is experiencing fast growth.
Morgan raised its forecasts for CICC's 2021-23 NPAT by 10-17%, mainly on more
cross-border businesses amid more southbound and northbound flows. (KL)
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03908 CICC
Nominal 
8.870 +0.050 (+0.567%) Others
21/01/2021 14:08
{I-bank focus}Morgan raises CICC (03908) to HK$29.95
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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