大行评级｜花旗：上调中国重汽目标价至39.4港元，维持“买入”评级

Core Viewpoint - Citigroup has raised its dividend payout forecasts for China National Heavy Duty Truck Group (CNHTC) for the fiscal years 2025 to 2027 to 60%, 70%, and 70% respectively, based on strong fundamentals, industry outlook, favorable policies, and cash flow projections [1] Summary by Category Dividend Forecast - The dividend payout ratio for CNHTC is projected to be 60% in 2025, 70% in 2026, and 70% in 2027 [1] Net Profit Forecast - Net profit estimates have been increased by 1% to 2%, reaching 7.1 billion, 8.3 billion, and 9.1 billion yuan for the respective fiscal years [1] Target Price Adjustment - Citigroup has raised the target price for CNHTC from 26.4 HKD to 39.4 HKD while maintaining a "Buy" rating [1]