BOCI Securities: Raise China Everbright Bank (06818.HK) target price to 3.97 Hong Kong dollars, maintain "buy" rating.

According to the Wisdom Financial APP, China CITIC International released a research report stating that China Everbright Bank (06818.HK) continued to increase its profit in the first quarter. Net profit increased by 0.3% year-on-year, and is expected to increase by 2.2% year-on-year for the full year of 2024. The bank believes that China Everbright Bank may maintain a good asset quality in 2025, but the net interest margin will still decrease. Considering the current cheap valuation, the target price was raised to HK$3.97 and the "buy" rating was maintained.