Daiwa: Initiates CMB (03968.HK) with "Outperform" Rating, Target Price HK$56.3

Zhito Finance APP has learned that Daiwa issued a research report, initiating coverage on China Merchants Bank (03968.HK) with an "Outperform" rating and a target price of HK$56.3, believing that an inflection point in fee income will reshape its earnings advantage.