JPMorgan Upgrades GTHT to Neutral, Adds to Positive Catalyst Watchlist

Stock News06-02 16:06

JPMorgan has issued a research report upgrading its rating on GTHT (ASX: 02611) H-shares and A-shares from "Underweight" to "Neutral."

The upgrade is based on several key factors. Firstly, the bank views GTHT as a primary beneficiary of the recent rally in the STAR Market.

Secondly, the brokerage sector's fundamentals are improving, supported by stronger average daily turnover in May and enhanced margin financing business.

Thirdly, while the stock's recent underperformance—lagging peers by approximately 10 percentage points year-to-date for both its A and H shares—makes its current valuation appear reasonable, it is not yet compelling enough to warrant an "Overweight" rating.

Consequently, JPMorgan maintains a "Neutral" stance on both share classes.

However, the bank sees an attractive risk-reward profile for accumulating GTHT shares ahead of a potential second-quarter earnings beat.

Based on current operating trends, JPMorgan forecasts that GTHT's revenue and profit for the second quarter of 2026 could see year-on-year growth of approximately 64% and 140%, respectively.

This projected growth is driven by stronger investment returns and a low base in the second quarter of 2025.

This momentum is expected to outpace that of its Chinese brokerage peers and should support the stock's near-term performance.

As a result, JPMorgan has added GTHT's A and H shares to its Positive Catalyst Watchlist.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1114972442?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-02 16:06","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1114972442","market":"fut","top_or_hot":-1,"title":"JPMorgan Upgrades GTHT to Neutral, Adds to Positive Catalyst Watchlist","media":"Stock News","content":"<p>JPMorgan has issued a research report upgrading its rating on <b>GTHT</b> (ASX: 02611) H-shares and A-shares from \"Underweight\" to \"Neutral.\"<br><br>The upgrade is based on several key factors. Firstly, the bank views GTHT as a primary beneficiary of the recent rally in the STAR Market.<br><br>Secondly, the brokerage sector's fundamentals are improving, supported by stronger average daily turnover in May and enhanced margin financing business.<br><br>Thirdly, while the stock's recent underperformance—lagging peers by approximately 10 percentage points year-to-date for both its A and H shares—makes its current valuation appear reasonable, it is not yet compelling enough to warrant an \"Overweight\" rating.<br><br>Consequently, JPMorgan maintains a \"Neutral\" stance on both share classes.<br><br>However, the bank sees an attractive risk-reward profile for accumulating GTHT shares ahead of a potential second-quarter earnings beat.<br><br>Based on current operating trends, JPMorgan forecasts that GTHT's revenue and profit for the second quarter of 2026 could see year-on-year growth of approximately 64% and 140%, respectively.<br><br>This projected growth is driven by stronger investment returns and a low base in the second quarter of 2025.<br><br>This momentum is expected to outpace that of its Chinese brokerage peers and should support the stock's near-term performance.<br><br>As a result, JPMorgan has added GTHT's A and H shares to its Positive Catalyst Watchlist.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Upgrades GTHT to Neutral, Adds to Positive Catalyst Watchlist</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJPMorgan Upgrades GTHT to Neutral, Adds to Positive Catalyst Watchlist\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-06-02 16:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>JPMorgan has issued a research report upgrading its rating on <b>GTHT</b> (ASX: 02611) H-shares and A-shares from \"Underweight\" to \"Neutral.\"<br><br>The upgrade is based on several key factors. Firstly, the bank views GTHT as a primary beneficiary of the recent rally in the STAR Market.<br><br>Secondly, the brokerage sector's fundamentals are improving, supported by stronger average daily turnover in May and enhanced margin financing business.<br><br>Thirdly, while the stock's recent underperformance—lagging peers by approximately 10 percentage points year-to-date for both its A and H shares—makes its current valuation appear reasonable, it is not yet compelling enough to warrant an \"Overweight\" rating.<br><br>Consequently, JPMorgan maintains a \"Neutral\" stance on both share classes.<br><br>However, the bank sees an attractive risk-reward profile for accumulating GTHT shares ahead of a potential second-quarter earnings beat.<br><br>Based on current operating trends, JPMorgan forecasts that GTHT's revenue and profit for the second quarter of 2026 could see year-on-year growth of approximately 64% and 140%, respectively.<br><br>This projected growth is driven by stronger investment returns and a low base in the second quarter of 2025.<br><br>This momentum is expected to outpace that of its Chinese brokerage peers and should support the stock's near-term performance.<br><br>As a result, JPMorgan has added GTHT's A and H shares to its Positive Catalyst Watchlist.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02611","symbol_name":"国泰海通","start_time":0,"source_url":"","article_id":"1114972442","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1114972442","pubTimestamp":1780387584,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"JPMorgan has issued a research report upgrading its rating on GTHT (ASX: 02611) H-shares and A-shares from \"Underweight\" to \"Neutral.\"The upgrade is based on several key factors. Firstly, the bank...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"02611":"国泰海通","BK1147":"投资银行业与经纪业","BK1564":"中资券商股"},"translate_title":"摩根大通将GTHT上调至中性，加入积极催化剂观察名单","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02611":1},"content_text":"JPMorgan has issued a research report upgrading its rating on GTHT (ASX: 02611) H-shares and A-shares from \"Underweight\" to \"Neutral.\"The upgrade is based on several key factors. Firstly, the bank views GTHT as a primary beneficiary of the recent rally in the STAR Market.Secondly, the brokerage sector's fundamentals are improving, supported by stronger average daily turnover in May and enhanced margin financing business.Thirdly, while the stock's recent underperformance—lagging peers by approximately 10 percentage points year-to-date for both its A and H shares—makes its current valuation appear reasonable, it is not yet compelling enough to warrant an \"Overweight\" rating.Consequently, JPMorgan maintains a \"Neutral\" stance on both share classes.However, the bank sees an attractive risk-reward profile for accumulating GTHT shares ahead of a potential second-quarter earnings beat.Based on current operating trends, JPMorgan forecasts that GTHT's revenue and profit for the second quarter of 2026 could see year-on-year growth of approximately 64% and 140%, respectively.This projected growth is driven by stronger investment returns and a low base in the second quarter of 2025.This momentum is expected to outpace that of its Chinese brokerage peers and should support the stock's near-term performance.As a result, JPMorgan has added GTHT's A and H shares to its Positive Catalyst Watchlist.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1114972442","isCrawlerRequest":true}