Citigroup: Cuts target price of AVIC Aircraft (02357.HK) to 4 Hong Kong dollars, maintains "buy" rating.

According to the intelligent financial app, Citigroup has released a research report stating that they have lowered the revenue forecast for China Aerospace Science and Technology Corporation (02357.HK) by 2% for the next two years. The annual gross profit margin has also been revised down from 22.6% and 23.2% to 21%. Due to the expected decrease in revenue growth and gross profit margin, the profit forecast for 2026 and 2027 has been lowered by 12% and 17%, and the target price has been lowered from 5 Hong Kong dollars to 4 Hong Kong dollars. Despite this, the "Buy" rating is still maintained. It is believed that China Aerospace Science and Technology Corporation will continue to benefit from steady growth in Chinese military expenditure, export opportunities, and potential development in civil aviation.