Citigroup: lowers PICC GROUP (01339) target price to 6.8 Hong Kong dollars, maintains "buy" rating.
The bank lowered its earnings per share forecasts for the next two years by 9% and 10% respectively, to reflect an increase in projected financial expenses related to holding insurance contracts.
Citigroup released a research report stating that after the release of PICC GROUP's 2025 financial performance, they have updated their model. The bank has lowered its earnings per share forecasts for the next two years by 9% and 10% respectively, to reflect the increase in financial expenses generated by holding insurance contracts. Citigroup has lowered its target price for PICC from 7.9 Hong Kong dollars to 6.8 Hong Kong dollars, while maintaining a "buy" rating.
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