CICC: First Travelex Holdings (00697.HK) target price raised to HK$2.73, performance meets expectations.

Zhijing Finance APP learned that released a research report stating that it has raised its 2025 to 2026 net profit forecast for First Travel Holdings (00697.HK) by 7% and 6% to 650 million yuan and 750 million yuan, respectively. This represents a year-on-year increase of 58% and 16%, mainly reflecting the growth of the company's core business and potential investment income. The company maintains a "outperform industry" rating. Considering the positive development trend of the company, the target price has been raised by 5% to 2.73 Hong Kong dollars, equivalent to a price-to-book ratio of 1.8 times for the next two years.