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China Cinda Asset Management : Barclays lowers China Cinda to HK$4.5

10/13/2015 | 02:25am US/Eastern

[ET Net News Agency, 13 October 2015] Barclays Research lowered its target price for

China Cinda Asset Management (01359) to HK$4.5 from HK$6, and maintained its "overweight"


The research house reiterated its positive view on Cinda given: (1) its favourable

positioning within China financials, offering higher growth prospects than banks and

better profitability versus insurers; (2) its refocus on the traditional NPL disposal

business while shifting to a "wholesaling" model; (3) the improving asset quality of its

restructured lending business; (4) likely lower funding costs; and (5) a stabilizing

property market.

Barclays also believes concerns over the potential acquisition of Nanyang Commercial

Bank (NCB) are overdone. It fine-tuned its earnings estimates for 2015-17. (KL)

(c) 2015 ET Net Limited. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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