Bank of America Securities: Raises target price of Hang Seng International (01044.HK) to 25.5 Hong Kong dollars, maintains "neutral" rating.

According to the Wise Finance APP, Bank of America Securities released a research report stating that the sales volume of Hengan International (01044.HK) in the first half of the year fell by 0.2% year-on-year, and the net profit after tax dropped by 2.6%, which is in line with market expectations. The bank correspondingly lowered the group's net profit forecast for the next two years by 7%. In addition, due to the narrowing of the sales decline, the target price-to-earnings ratio for 2025 was raised to 11 times (originally 9 times), and the bank raised the group's target price by 8% to 25.5 Hong Kong dollars, maintaining a "neutral" rating.