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USDC Issuer Circle Taps Banks for IPO, With Public Filing Seen Late April - Report
On the eve of performance announcements, US bank stocks are experiencing their worst quarterly performance since the crisis of 2023.
Bank of America stocks have experienced their worst quarter since the crisis crash in 2023.
HSBC Adjusts Price Target on Citigroup to $91 From $94, Maintains Buy Rating
Citigroup: Cut CHINA RES GAS Target Price to HKD 29, rating downgraded to "Neutral".
Citibank released a Research Report stating that CHINA RES GAS (01193) is expected to earn more than 20% lower than the market average expectation in 2024, mainly due to delays in connection projects and the connection rate of existing buildings being lower than anticipated. Although the sales volume of Henry Hub Natural Gas showed recovery in the first two months of this year compared to the decline recorded in the fourth quarter of last year, it is still uncertain whether new user connections, integrated services, and other Business can rebound from the trough in the second half of 2024. The firm has downgraded the rating of CHINA RES GAS from "Buy" to "Neutral" and reduced the net income forecast for 2025 to 2026 by 20% to 21%, with the Target Price accordingly adjusted.
Citigroup: Maintains LEGENDHOLDING's "Buy" rating as management reiterates its focus on AI development.
Citigroup released a Research Report stating that LEGENDHOLDING (03396) turned a profit in the 2023 fiscal year, and the management reiterated its focus on AI development, which not only benefits LENOVO GROUP (00992) but also encompasses a portfolio of over 270 AI projects under LEGENDHOLDING. Citigroup maintains a "Buy" rating for LEGENDHOLDING. The firm indicated that LEGENDHOLDING will continue to invest in AI technology and cross-industry AI integration, with the company's current trading price reflecting approximately a 77% discount compared to its net asset value, or about a 44% discount relative to its holdings in LENOVO GROUP. The firm believes that buying LEGENDHOLDING is a way to gain access to LENOVO.
Citi: Raised the Target Price for CITIC to HKD 11.25, rating "Buy".
Citi's research report states that CITIC (00267) reported a net profit of 58.2 billion yuan last year, an increase of 1% year-on-year, which is roughly in line with expectations. The final dividend per share is 0.36 yuan, with an annual dividend of 0.55 yuan, resulting in a payout ratio of about 27.5%. The firm indicated that, barring any unforeseen circumstances, CITIC's management expects the payout ratio to be no less than 28% this year and no less than 30% next year, providing some protection against downside risks for investors. The firm has raised its Target Price from 9.35 HKD to 11.25 HKD, maintaining its rating of "Buy."
空軍部隊vs 抄底絕招 : To save the market, immediate interest rate cuts are necessary.