Goldman Sachs: Raised the target price of Guangfa Securities (01776.HK) to 16.36 Hong Kong Dollars, maintains a "neutral" rating.

According to the Wise Finance APP, Goldman Sachs released a research report stating that Guotai Junan Securities (01776.HK) had third quarter revenue and net profit of 11 billion RMB and 5 billion RMB respectively, representing a year-on-year increase of 46% and 76%. The bank's expected growth was 18% and 23%. The bank expects investors to focus on the growth drivers of the company's asset management business, investment income prospects and financial asset allocation strategies, and cost reduction guidance. Goldman Sachs has raised Guotai Junan Securities' revenue and net profit forecasts for 2025 to 2027 by an average of 7% and 11% to reflect the strong performance in the third quarter, while maintaining a neutral rating with a target price raised from 14.47 Hong Kong dollars to 16.36 Hong Kong dollars.