Bank of America Securities: Slightly lowered Vanda International's (00288.HK) target price to HK$8.2 and reiterated a "buy" rating.

Investment researchers at Zhitong Finance and Economics APP have learned that Bank of America Securities released a research report stating that Wanda International (00288.HK) had mixed results in the first quarter. The net profit increased by 20.9% year-on-year, while operating profit increased by 20.3% year-on-year. The operating profit in the United States saw a growth rate of 75.4%, surpassing expectations, but the Chinese business declined by 14%, falling short of expectations. Overall, Wanda's first-quarter performance basically met the bank's expectations. The better-than-expected performance of the US business helped offset the underperformance of the Chinese business. Bank of America Securities has lowered Wanda's target price from HK$8.3 to HK$8.2, and reaffirmed a "buy" rating.