CICC: Maintaining Nine Dragons Paper (02689) "Outperform" rating with a target price of HK$12.

According to the Zhongtong Finance APP, CICC released a research report stating that it maintains its "outperform" rating on Nine Dragons Paper (02689), with unchanged profit and target price. The current stock price corresponds to a FY26-27 P/B ratio of 0.5x. The target price is 12 Hong Kong dollars, corresponding to FY26-27 P/B ratios of 0.9x and 0.8x, implying a 64% upside potential.