CICC: Maintains "outperform" rating on Chow Tai Fook (01929), raises target price to HK$16.11.

According to the Securities Times, Zhongjin issued a research report stating that it maintains its earnings per share forecast for Chow Tai Fook (01929) for FY26/27 at HKD 0.84/0.92. The current stock price corresponds to a P/E ratio of 17/15 for FY26/27, and the company maintains its outperforming industry rating. Considering the possible increase in industry valuation, the target price has been raised by 8% to HKD 16.11, corresponding to a P/E ratio of 19/18 for FY26/27, with a 15% upside potential compared to the current stock price.