一表歸納大行對匯控(00005.HK)業績後最新目標價及評價
匯豐控股(00005.HK)今日早市股價造淡，處60元水平。匯控昨日(5日)開市前公布中期業績，列賬基準除稅前利潤升15.8%至124.07億美元，高於本網早前綜合4間券商介乎115.76億至121.47億美元預測，經調整除稅前利潤升6.8%至達到125億美元。列賬基準除稅後利潤增加18.1%至99億美元。每股中期盈利42美仙，年度第二次股息每股普通股10美仙。有均有形股本回報(年率)增加150個基點至11.2%。集團擬進行總額最多10億美元股份回購計劃，預計短期內展開。
【行政總裁離任 全球裁員2%】
匯控同時宣布上任年半的行政總裁范寧(John Flint)離任。匯控主席杜嘉祺表示，目前公司需要作出策略上的轉變，料6至12個月內可覓得繼任人選。匯控財務總監邵偉信披露，集團將全球裁減最多2%員工，按目前23.77萬名員工計，全球裁員人數或達4,754人，以節省最多4%員工成本，料裁員及員工離職賠償額介乎6.5億美元至7億美元。
對於范寧離任，瑞銀認為匯控董事會表面上沒有要求改變業務策略，但任何繼任安排，尤其可能傾向外部招聘，匯控業務策略的實質改變可能發生。該行視成本及股息政府為兩項最有可能改變的範疇。該行又指，匯控面對利率下降、波動性地緣政治因素影響其兩大重要市場，中期盈利能力受虛擬銀行發牌影響，預期對成本控制採取更主動做法將為重點。
【摩通：不預期業績強勁趨勢持續】
摩根大通認為，匯控縱使業績強勁，但不預期今年次季的正面趨勢會在未來季度延續，受制於宏觀環境及資本市場的不確定性。管理層亦指美國減息、英國脫歐及地緣政治問題改變展望。該行預期匯控淨息差面臨債務息差收窄問題，英國及香港的信貸增長會受英國脫歐、宏觀不確定性及地緣政治風險影響而變弱，資本市場或不會在下半年復甦，威脅管理層明年有形股本回報率11%的目標。
匯控股價在業績公布後隨大市下跌，本網最新綜合7間券商對其投資評級及目標價：
券商│投資評級│目標價(港元)
國泰君安│收集│79.68元高盛│買入│79元
摩根大通│中性│73元
摩根士丹利│與大市同步│70元
瑞銀│中性│64.8元
瑞信│中性│63.9元(670便士)
花旗│沽售│52.9元券商│評論
國泰君安│上半年業績勝預期高盛│業績符預期
摩根大通│次季強勁業務趨勢不大可能維持
摩根士丹利│次季業績穩固，關注行政總裁變更
瑞銀│次季稅前溢利改善，行政總裁變更令人意外
瑞信│行政總裁變更令人意外
花旗│收入面臨不確定性
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