Credit Lyonnais: CITIC Ka Wah Bank interim result within expectation

Credit Lyonnais pointed out that the first-half earnings result of CITIC Ka Wah Bank (0183) met expectation but the full-year earning forecast would be adjusted in a range of less than 5%. The target price of CITIC Ka Wah Bank was set at HK$3 per share, which means there is 23.7% room for rise over the close price of HK$2.425 this morning. The fund house also predicted that the bank can ¡§outperform the market¡¨.

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