Citigroup Unusual Options Activity
Citi: Maintain Buy rating on KEYMED BIO-B with a Target Price of 60 Hong Kong dollars.
Citi released a research report stating that KEYMED BIO-B (02162) is undervalued, and its further progress in commercialization as well as the launch of new candidate drugs will prompt investors to reassess its value. Therefore, it maintains a "Buy/High Risk" rating with a Target Price of HKD 60. Recently, the weakness in KEYMED's stock price has fully reflected the 40% price cut of Dupixent in negotiations with the national medical insurance catalog, exceeding the market expectation of 30%, as well as investors' concerns about the commercialization prospects. KEYMED's management previously expressed confidence in a sales target of 0.5 billion RMB for 2025, with 60% planned.
Citibank: maintains XINYI SOLAR's "Neutral" rating, lowering the Target Price to 3.1 Hong Kong dollars.
Citi released a research report maintaining a "neutral" rating on XINYI SOLAR (00968), focusing on the losses in Photovoltaic Glass windows due to weak market demand. However, its financial status remains robust, with a forecast for lower capital expenditure budgets next year. The Target Price has been lowered by 14% to HKD 3.10 to reflect the adjusted earnings forecast. The firm indicated a downward adjustment of 11% to 18% in its Net income projections for XINYI SOLAR from this year through 2026, mainly reflecting a reduction in Photovoltaic Glass sales forecasts. The firm also assumes a year-on-year increase in glass production capacity of 14% and 4.5% over the next two years, impacted by additional capacity closures and postponed new projects. The firm's profit forecast for the company this year suggests.
Citigroup: Reiterates XIAOMI-W 'Buy' rating with a Target Price of HK$34.9.
Citi released a research report reaffirming XIAOMI-W (01810) with a "Buy" rating and a Target Price of 34.9 Hong Kong dollars. Future main catalysts include an increase in SU7 Ultra electric vehicle Orders, the launch of a new intelligent driving system, potential mobile phone subsidy policies, and the rollout of the YU7 electric vehicle. The report states that XIAOMI held a comprehensive ecosystem partner conference in Peking last Friday (27th), reaffirming that R&D expenditures for this and next year will be 24 billion and 30 billion yuan respectively, estimating that R&D expenditures from 2022 to 2026 will exceed 100 billion yuan, primarily concentrated on AI and operations.
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Citi: The uncertainty in South Korea's domestic politics may escalate and last for a longer period.
Citigroup analysts state that the political uncertainty within South Korea may escalate and last longer. Citigroup indicates that despite different motivations for election timing among political parties and the impeachment of the acting president, economic policies in South Korea may continue. In the coming days, the South Korean Foreign Exchange Management Agency and the National Pension Service may intervene. However, Citigroup adds that due to the uncertainties of Trump's trade policy, the interest rate differential between the Federal Reserve and the South Korean central bank, as well as the unclear global growth prospects, South Korea may face difficulties in seeking active intervention. Citigroup also notes that the weakening of the Korean won could impact next year's inflation trajectory.