JPMorgan Chase released a research report sayinggamep2ecrypto, maintain the "overweight" rating of China Merchants Bank (03968), and raise its target price from HK$39 to HK$44. The company's A-share price has risen 27% year-to-date, and H-shares have risen 36%, outperforming the Shanghai and Shenzhen 300 Index and the MSCI China Index by 20 and 24 percentage points respectively.

The report said that as profit growth performance in the second half of the year improves compared with the first half of the year, Mocom predicts that China Merchants Bank's profit per share in 2024 will increase by 2% year-on-year, hoping for room for upside in the stock price. The bank warned that if investment sentiment in the market is weak, profit-taking may occur, and the H-share price may have potential room for adjustment of up to 20% because the risk returns are good and data shows that China Merchants Bank provides the best banking business in China.