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<Research>HSBC Research Raises TPs for BOC HONG KONG/ BANK OF E ASIA to $44.5/ $15.3
Recommend 9 Positive 12 Negative 9 |
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HSBC Global Research issued a research report turning more optimistic on the outlook for domestic Hong Kong banks, with industry PB ratio re-rating providing favorable reference. As the HIBOR rises, the net interest margin outlook is expected to improve, while demand for wealth management and insurance remained strong, with capital return perspective remaining intact. The broker was optimistic about BOC HONG KONG (02388.HK) and BANK OF E ASIA (00023.HK), as the total shareholder return has growth potential and they can seize opportunities related to wealth management. Their valuations are still below local and regional peers with similar net asset returns. HSBC Global Research lifted its target price for BOC HONG KONG from $42.8 to $44.5, and added its target price for BANK OF E ASIA from $15.2 to $15.3, with ratings for both stocks kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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