《大行报告》摩通下调中银(02388.HK)目标价至37.8元维持「增持」评级
摩根大通发表报告表示,重申对中银香港(02388.HK)维持「增持」评级,但下调其目标价,由原来39元降至37.8元,此相当於预测今年市账率1.45倍及市盈率12倍,以反映利率前景将会放缓。
该行指,调整对中银香港2019年及2020年盈利预测各5%及2%,以反映今年首季营运表现因素。该行认为,中银香港目前估值已大致反映核心盈利前景放缓预期,相信下行空间有限,并指其提供近5厘派息收益吸引。
摩根大通估计,中银香港於2019年及2021年每股经调整盈利各为3.2、3.48及3.83元,料2019年及2021年每股全年派息分别1.54、1.67及1.84元,料提供股息回报各5厘、5.4厘及5.9厘。
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