CICC International: Raises target price of China Everbright Bank to 3.97 Hong Kong dollars, maintains "buy" rating.

Bank of China International issued a report stating that China Everbright Bank's first quarter profit continued to grow, with a year-on-year increase of 0.3%, and is expected to grow by 2.2% for the full year of 2024. The bank believes that in 2025, China Everbright Bank may maintain good asset quality, but net interest margin will still decrease. Considering the current cheap valuation, the bank raised its target price to HK$3.97 and maintained a "buy" rating.