On Jun 12, CGN Meiya closed at HKD 3.47 with a growth rate at 10.16%, a new closing high since listed. J.P. Morgan and Daiwa Securities reset the target price at HKD 3.6 and HKD 3.4 respectively and rated CGN Meiya as “overweight” and “outperform”.

CGN Meiya’s (01811.HK) share price outperforming the market at 35% since early this year and expected asset injection from parent company CGN Group are the main reasons to J.P. Morgan and Daiwa Securities’ new target price and rating. The two banks anticipated that there would be still new room to rise for CGN Meiya to acquire another new rating.