CICC: Maintaining Outperform Rating on China Everbright International, Raising Target Price to HK$10.

25e2624.90.5x/0.4x 25e/26e P/B4.710.0 CICC released a research report stating that considering the market's uptrend boosting investment income, while the increasing tax rate dragging down costs, maintaining the 25e profit forecast for China Everbright Holdings basically unchanged, introducing a new profit of 2.49 billion Hong Kong dollars for 26 years. The company is currently trading at 0.5x/0.4x 25e/26e P/B. Considering the positive market sentiment and steady business recovery of the company, we maintain our outperform industry rating, with the target price raised from 4.7 Hong Kong dollars to 10.0 Hong Kong dollars.