CICC: Raises China Merchants Bank (03968.HK) H-share target price to HK$70.8, maintains "Outperform" rating

Zhitong Finance APP has learned that CICC issued a research report stating that it has raised the target price for China Merchants Bank (03968.HK) H-shares to HK$70.8 and maintained an "Outperform" rating. The bank believes that amid macroeconomic fluctuations and a low interest rate environment, China Merchants Bank's third-quarter results demonstrated resilience, quarterly return on equity gradually stabilized, and revenue and profit growth accelerated, reaching a level comparable to that of large banks.