Citibank: Reiterates "Buy" rating on BRILLICELERANCE CHI(01114) with a target price raised to HKD 5.86

Citigroup released a research report stating that it reiterates a "Buy" rating on BRILLIANCE CHI (01114) and has raised the target price from 5 HKD to 5.86 HKD. BRILLIANCE CHI announced a special dividend of 1 HKD per share on the closing of the 3rd day, far exceeding market expectations of 0.25 HKD to 0.5 HKD per share. Citigroup has made slight adjustments to its net profit forecasts for the company from 2024 to 2026 to be 40.2 billion RMB, 34.5 billion RMB, and 30.1 billion RMB respectively, and has initiated a 30-day observation of catalysts for an upward trend.