Citigroup maintained its rating held by 00053-HK, raising its target price to HK $73 from HK $71.50, but still below the current price, after Guohao increased its stake in Bank of East Asia (00023-HK) to 6.03 per cent on July 15. Citi added that Guohao's stake in Bank of East Asia accounted for about 8 per cent of its net asset value by market capitalisation; the bank also raised its profit forecast for the 2009-11 fiscal year by 25 per cent and 43 per cent, and Guohao is expected to benefit from the recent rebound in the stock market.

Guohao rose 2.17 per cent to HK $70.5 yesterday.