Glonghui, March 28 | Bank of America Securities released a report saying that CITIC Securities's net profit reached 19.2 billion yuan last year, in line with earlier guidelines. Brokerage, asset management and net interest income fell 8%, 10%, and 31%, respectively, from year to year, mainly due to weak markets, lower fees, and higher interest expenses. The bank said it lowered its target price from HK$20.9 to HK$19.5. It rated “buy” and viewed this as the first choice, mainly due to its strong performance in difficult markets and the acceleration of market share expansion due to industry consolidation.
大行评级｜美银：下调中信证券目标价至19.5港元 评级“买入”
Bank Rating | Bank of America: Lowering CITIC Securities Target Price to HK$19.5 Rating “Buy”
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