Core Viewpoint - Goldman Sachs reported that China International Capital Corporation (CICC) achieved net income and net profit of 8 billion yuan and 2.2 billion yuan in the third quarter, exceeding the bank's expectations by 9% and 6% respectively [1] Financial Performance - The performance across various business segments was generally in line with expectations, but investment banking revenue was particularly strong, reaching 1.3 billion yuan, which was significantly above the bank's forecast by 45% [1] Future Outlook - The bank anticipates that investor focus will shift towards the company's outlook for the capital markets in 2026, driven by the robust growth in investment banking revenue, especially in Hong Kong operations and the speed of transaction execution [1] - Key considerations include cost control guidance, potential recruitment increases due to workforce shortages, and details on capital allocation and leverage usage [1] Ratings and Target Prices - The bank maintains a "Buy" rating for H-shares, raising the target price from 22.9 HKD to 25.1 HKD; for A-shares, a "Neutral" rating is given with the target price increased from 42.03 CNY to 46.05 CNY [1]
大行评级丨高盛：中金第三季投行业务收入表现亮眼 上调AH股目标价
Ge Long Hui·2025-11-03 06:53