Update: Citigroup Names Kate Moore as CIO of Wealth Unit

MT Newswires06:28 ET

Bank of America Moves Down FSB's 'Too Big to Fail' List, Crédit Agricole Advances

Seeking Alpha03:11 ET

Citi: Maintains tongchengtravel 'buy' rating, target price raised to 21 Hong Kong dollars.

Citigroup released a research report stating that it maintains a 'buy' rating on tongchengtravel (00780), with upward adjustments of 2%, 3%, and 0% in profit forecasts for 2024 to 2026, respectively, to reflect the third-quarter performance. The target price has been raised from HK$20 to HK$21, with the core OTA trend remaining strong and gross profit continuing to improve. The report mentioned that the company's third-quarter performance was robust, with both revenue and profit exceeding expectations. As for the fourth quarter, the bank expects the hotel and ticketing business to continue to perform well, with strong sales growth, stable year-on-year average daily room rates (ADR), and improved commissions.

Sina Hong Kong stocks02:24 ET

Citigroup: Chow Tai Fook rated as buy with a target price cut to HK$9.4.

Citigroup released a research report stating that the target price of Chow Tai Fook (01929) has been lowered by 17.5%, from HK$11.4 to HK$9.4, with a 'buy' rating. Citigroup pointed out in the research report that Chow Tai Fook's mid-term revenue was weak as of the end of September this year, but net profit still met expectations, and the underlying profit margin was strong, with a significant hedge loss due to the surge in gold prices during the period. The mid-term dividend was lower than expected. Due to the early start of promotions for the november 11 shopping festival-related activities, sales performance improved in October, but has been relatively soft since November, leading to uncertainty about the prospects for demand recovery.

Sina Hong Kong Stocks02:20 ET

The rise in stock prices has triggered a chain reaction! Deutsche Bank warns that major Wall Street firms may reduce share buybacks.

Deutsche Bank stated that US bank stocks have rebounded since the end of September.

Zhitong Finance01:58 ET

Mondee Appoints of CFO Jesus Portillo as the New CEO; Shares Tumble After Nasdaq Non-compliance Notice

Seeking Alpha17:54 ET