The Zhitong Finance App learned that J.P. Morgan Chase released a research report stating that the target price was raised from HK$39 to HK$44 while maintaining China Merchants Bank's (03968) “plus” rating. The company's A share price has risen 27% since the beginning of the year, and H shares have risen 36%, outperforming the Shanghai and Shenzhen 300 Index and the MSCI China Index by 20 and 24 percentage points respectively.

According to the report, as earnings growth in the second half of the year improved compared to the first half of the year, Motong predicts that CMB's earnings per share will increase 2% year-on-year in 2024, and it is expected that there will be room for stock prices to rise. The bank warned that if investment sentiment is weak in the market, profits may return. H share prices may have potential adjustment of up to 20% because risk and return are good, and data shows that China Merchants Bank provides the best banking business in China.