UBS: Upgraded Haitong International (01308.HK) to "Buy" with a target price raised to 25 Hong Kong dollars and included in the recommended stock list for the Asia-Pacific region.

According to the WiseFinance app, Credit Suisse released a research report stating that Hoi Fung International (01308.HK) has strong cash flow to support dividends, and has a track record of maintaining a payout ratio of up to 70%, believing that its dividend yield is very attractive. The bank has raised the group's rating from "sell" to "buy" and changed its valuation method, predicting an enterprise value to EBITDA ratio of around 5.5 times, raising the target price from 17.3 Hong Kong dollars to 25 Hong Kong dollars, and including the stock in Credit Suisse's key recommendations for the Asia-Pacific region. The bank expects that demand for air routes in the Asia-Pacific region will continue to outpace supply, and predicts that freight rates will remain high after this year, combined with Hoi Fung International's cost control measures to drive the group's EBITDA to continue to grow from 2025 to 2029, raising its EPS forecasts for 2025 to 2027 by 70% to 91%.