Bank of America Merrill Lynch downgraded CITIC SEC (06030.HK) -0.380 (-2.023%) Short selling $22.97M; Ratio 29.345% 's
investment rating from Buy to Neutral, with target price cut from $21.2
to $20.3. The broker said the market's expectation that the
Shanghai-Hong Kong Stock Connect will bring positive effect to the
company's long-term prospect should have reflected in its stock price.
The 2015e P/B is now standing at 1.7x, close to the historical high of
2x
CITIC Annual Net Profit Up 1.8% to $43.902B; Final Div $0.25 CITIC (00267.HK) -0.160 (-1.447%) Short selling $8.89M; Ratio 25.055% announced that for the year ended December 2017, net profit rose 1.8% yearly to $43.902 billion, with an EPS of $1.51. A final dividend of $0.25 was declared. Profit contribution from financial sector of the company amounted to $39.5 billion, up 3% yearly. CITIC Construction continued to make inroads securing projects, both domestically and internationally, particularly along the Belt and Road corridor.
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