Citigroup maintains a "buy" rating on BRILLIANCE CHI (01114) with a target price raised to 5.64 Hong Kong dollars.
Brilliance China announced on June 14 that it will distribute a special dividend of 4.3 yuan per share, with an ex-dividend date of July 3.
Citi released a research report stating that it maintains a "buy" rating on BRILLIANCE CHI (01114) and announced a special dividend of HK$4.3 per share on June 14, with the ex-dividend date set for July 3. After the ex-dividend, the target price was raised from HK$4.85 to HK$5.64, representing a historical average P/E ratio of 5 times the company's earnings per share for the fiscal year 2024.
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