[ET Net News Agency, 2 February 2021] Nomura lifted its target price for CITIC
Securities (06030) to HK$24.89 from HK$23.72 and maintained its "buy" rating.
The research house factored in the unaudited FY2020 key financial data and CNY5bn
impairment losses reported in the 9-month results. It also incorporated a lower actual
FY2020 A-shares ADT (average daily turnover).
Nomura revised its 2020/21/22 earnings growth from 66%/4%/22% to 30%/29%/34%. It
believes CITIC is well-positioned to enjoy the policy benefits of the ongoing capital
market reform that aims to promote the capital market's role in nurturing new economy
companies. (KL)