CICC: Maintains Outperform Rating on China Overseas Development (00688.HK), Raises Target Price to HK$17.2

According to the Wisdom Financial APP, CICC released a research report stating that it maintains China Overseas Development's (00688.HK) profit forecast, with a core profit of 15 billion yuan in 2025 (a decrease of 4.3% year-on-year) and 16 billion yuan in 2026 (an increase of 6.5% year-on-year). It maintains an outperform rating, considering the overall market valuation level has been repaired, and raises the target price by 10% to 17.2 Hong Kong dollars per share (corresponding to 0.45 times the 2025 price-to-book ratio), with a 25% upside potential from the current price. The company is currently trading at 0.36 times the 2025 price-to-book ratio.