Citi: Maintains "Buy" rating on Huazhu Group-S (01179.HK) and raises target price to HKD 47.

According to the Zhitong Financial APP, Citigroup has released a research report stating that Huazhu Group-S (01179.HK) exceeded expectations in its second quarter performance, with revenue increasing by 10.8% year-on-year to 7.1 billion RMB, surpassing the bank's and market expectations by 4.3% and 4.7%, respectively. Adjusted net profit rose by 26.9% year-on-year to 1.71 billion RMB, exceeding the bank's and market expectations by 4.7% and 8.2%, respectively. Citigroup has slightly adjusted its earnings forecast, raising the target price for Huazhu Group's Hong Kong stock from HKD 46 to HKD 47, and the target price for Huazhu Group (HTHT.US) on the U.S. stock market from USD 58 to USD 59, while maintaining a "Buy" rating.