Citigroup: Raises target price for Ningde Times to HK$888, expects profit to reach 100 billion RMB this year.

Citigroup released a research report stating that the target price of Ningde Times A shares has been raised from RMB 576 to RMB 603. At the same time, based on a historical H/A share premium of 28%, the target price of Ningde Times H shares has been raised from HKD 621 to HKD 888. The recommendation of "buy" is maintained and it continues to be listed as the "preferred" in this sector. The new target price for H shares is equivalent to a price-to-earnings ratio of 34.3 times and a price-to-book ratio of 8.7 times for the fiscal year 2026.