UBS has released a research report stating that CIMC ENRIC (03899) posted first-half revenue and net profit slightly below the firm's expectations. The bank has trimmed its price target from HK$15 to HK$13.6, while maintaining a "Buy" rating.
The firm has lowered its diluted earnings per share forecasts for 2026-2028 by 15%, 5%, and 6%, respectively, to RMB 0.56, RMB 0.72, and RMB 0.79, reflecting the first-half performance and incorporating a reduced mid-term growth rate assumption of 6%.
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