招银证券：给予中信银行(00998.HK)“增持”评级目标价5.90港元|招银证券_新浪财经

个人养老投资新时代，40家养老目标基金PK，你会选择哪一家？【寻2019基金业引领者】

招银证券3月27日发布公告。Maintain BUY and HK$5.90 TP. The cut in payout ratio may cause a negative share price reaction, but could help in CITICB’s capital preservation in the long run. The Bank is currently trading at 0.49x FY19E P/B, 30% discount to sector average and close to its valuation trough of 0.43x in early-2016. Therefore, we see limited downside risks for CITICB, and further RRR cuts and progress in equity raising would be positive catalysts for the stock.