Citi Initiates Chow Tai Fook Creation at Buy with TP HKD10.6
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Citi has initiated coverage on Chow Tai Fook Creationwith a Buy rating and a target price of HKD10.6. The positive outlook is based on a sustainable dividend policy, strong operating profit growth from Chow Tai Fook Life, and active capital recycling. The forecast for FY2026 includes a dividend yield of approximately 7% and AOP growth of 17%. Chow Tai Fook has consistently paid dividends since its listing, with a projected dividend per share of HKD0.6 for FY2026. Management is also divesting non-core assets, potentially generating significant future proceeds.
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