Bank of America Securities: Reaffirms the 'buy' rating for PICC Group with a target price of HKD 3.7.

Bank of America Securities released a research report stating that it reiterates a "buy" rating on PICC Group (01339), as the investment income assumptions and property insurance revenue expectations for People's Insurance Company of China (PICC) in the 2024 fiscal year are high. The profit forecast for the 2024 fiscal year has been raised by 30%, and the profit forecast for the 2025 to 2026 fiscal year has been raised by 1% to 2%. The target price has been raised from 3.6 Hong Kong dollars to 3.7 Hong Kong dollars. The report mentioned that PICC Group's performance in the first half of this year has shown steady growth, and it distributed an interim dividend for the first time. The bank expects that the dividend payout ratio for the 2024 fiscal year will remain stable at 30%, and its earnings per share growth will be in line with profit growth.

新浪港股05:42 ET

Bank of America Securities: Maintains a "neutral" rating on Bank of Communications, with a target price lowered to HKD 5.9.

Bank of Communications (03328) reported a 1.6% year-on-year drop in net profit to ¥45.3 billion in the first half of the year, lower than the bank's forecast of 1.5%. Core profit fell 6.5% year-on-year, lower than expected by 4.2%. However, it provided support by paying a mid-term dividend of 18.2 cents, with a payout ratio of 32%. The bank has lowered its profit forecast for Bank of Communications from 2024 to 2026 by 1% to 4%, and revised the target price from HK$6.06 to HK$5.9, maintaining a "neutral" rating, as it does not find the valuation attractive.

新浪港股03:57 ET

Why did Warren Buffett significantly reduce his holdings in Apple (AAPL.US) and Bank of America (BAC.US)?

Warren Buffett recently made significant shareholding reductions in Apple and Bank of America stocks.

Zhitong Finance03:56 ET

Is Bank of America Corporation (BAC) the Best Stock to Buy According to Hosking Partners?

Yahoo Finance03:13 ET

Warren Buffett Gets an Early 94th Birthday Present: A $1 Trillion Market Value for Berkshire

Dow Jones21:13 ET

Overnight news: nvidia's revenue outlook falls short of the most optimistic expectations. OpenAI is reportedly seeking new financing with a valuation of over one trillion dollars. Berkshire's market cap first breaks 1 trillion dollars.

To view more global financial news, please visit the 24-hour real-time financial news market closing: Nvidia announced its financial report, and the US stock market closed down, with the Nasdaq down 200 points. The top 20 trading volumes in the US stock market on August 28: PDD Holdings fell for four consecutive days, with a market cap shrinking by over 80 billion US dollars. Popular China concept stocks fell on Wednesday, with PDD Holdings down 7% and BOSS Zhipin down 21.5%. Most major European stock indices closed up, with the Euro Stoxx 50 index up 0.27%. International precious metals futures generally fell, with COMEX gold futures down 0.54%. WTI crude oil in the United States fell 1.3% on Wednesday, marking the second consecutive day of decline.

環球市場播報18:33 ET