Damo: It is expected that the stock price of CICC (03908) will rise to the target price of HK$28.9 in the next 30 days

The Zhitong Finance App learned that Morgan Stanley released a research report saying that it is expected that the stock price of CICC (03908) will rise within the next 30 days, with a probability of about 70% to 80%, based on the announced plans to exchange shares and acquire Dongxing and Cinda Securities. The bank gave CICC a target price of HK$28.9, with a rating of “increase in holdings”.

According to the report, CICC has announced the details of the stock exchange and merger. The implied net market ratio for the third quarter of 2025 was 1.8 times that of CICC A shares, 1.8 times (including a 26% premium) of Dongxing Securities, and 3.1 times that of Cinda Securities. The bank expects this merger to have significant synergistic effects, including strengthening the capital base, expanding the customer system, a relatively rapid integration process, and limited dilution impact on CICC's H share shareholders.