Guoyuan International: Initiate coverage of Chow Tai Fook (00659.HK) with a buy rating and a target price of HK$9.42.

Wisdom Financial News APP learned that Guotai Junan International released a research report stating that it first gave Chow Tai Fook (00659.HK) a buy rating. Based on a fair value derived from a divisional aggregation model plus a 30% liquidity discount, the target price of 9.42 Hong Kong dollars was given. Chow Tai Fook (formerly known as New Chow Tai Fook Group Limited) is a comprehensive enterprise with a diversified business portfolio mainly located in Hong Kong and mainland China. The bank believes that Chow Tai Fook has multiple positive factors, including stable cash flow and growing insurance business driving profit prospects, attractive dividend yield, and potential interest rate cuts helping to improve valuation.