JPMorgan: Raises China Merchants Securities (06099.HK) target price to HK$21, maintains "Overweight" rating

Zhitong Finance APP has learned that JPMorgan issued a research report stating that it has raised the target price of China Merchants Securities (06099.HK) H-shares from HK$20.5 to HK$21, maintaining an "Overweight" rating. The bank pointed out that before the third-quarter earnings season, it is a good time for investors to re-examine China Merchants Securities, and it believes the stock is one of the few Chinese brokers with clear company-specific earnings catalysts in the third quarter, while most brokers in the industry are still affected by weaker trading activity and slower financing activity in the third quarter.