The Zhitong Finance App learned that Citibank released a research report stating that it raised Hang Seng Bank's (00011) earnings forecast per share by 2 to 3% for the 2024 to 2026 fiscal year, mainly due to an increase in handling fee revenue and a decrease in tax expenses due to a recovery in market sentiment. Meanwhile, due to reduced uncertainty in the macro environment, the bank lowered the assumed cost of equity to 9.8%, compared to the original estimate of 10.4%. Based on the above forecast changes, the target price was raised from HK$96 to HK$109, maintaining the “neutral” rating.