CICC: Maintain Outperform Rating on China Merchants Port (00144.HK) and raise target price to HK$16.5

According to the Wise Finance APP, CICC released a research report stating that it maintains China Merchants Port Holdings' (00144.HK) net profit for 2025 basically unchanged and introduces a net profit of 7.7 billion Hong Kong dollars for 2026 for the first time. The current stock price corresponds to a 2025 P/E ratio of 8.2 times and a 2026 P/E ratio of 8.0 times. It maintains an outperform industry rating. Due to significant non-recurring losses in 2025, the bank conducted a valuation based on profits for 2026, raising the target price by 13.8% to 16.5 Hong Kong dollars per share. The target price corresponds to a 2025 P/E ratio of 9.3 times and a 2026 P/E ratio of 9.0 times, with a 12.8% upside potential compared to the current stock price. The company's current stock price corresponds to a dividend yield of 5.4% for 2025 and 5.9% for 2026, making it somewhat attractive.