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<Research>HANG SENG BANK (00011.HK) Ratings, TPs (Table) (Update)
Recommend
15
Positive
12
Negative
17
HANG SENG BANK (00011.HK) will release its interim results for 2024 next Wednesday (31 July).

Under the challenges of Hong Kong's macro-economy and dragged down by the decline in loan growth and HoH drop in net interest margin, HANG SENG BANK's 2024 interim pre-tax profit is expected to be in the range of $10.225 billion to $10.977 billion, down 0.1-6.7% from $10.961 billion in the interim period of 2023, as forecasted by 4 brokers summarized by our reporters. The median was $10.499 billion, down 4.2% YoY.

The table below sets out the ratings and target prices of 6 brokers:

Broker│ Rating│ TP

Citi│ Neutral│$109 -> $106
Goldman Sachs│ Sell│$107
BofA Securities│ Buy│$103.5
Jefferies│ Hold│$100
Morgan Stanley│ Equalweight│$97.1
UBS│ Neutral│$94.5
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