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瑞信下调惠理(0806.HK)目标价至4.7港元指中期业绩缺乏惊喜
格隆汇 08-21 11:00

瑞信发表研究报告,指惠理(00806.HK)中期业务缺乏惊喜。上半年纯利按年增长29%,主要是受到投资收入增长所带动,但费用收入则按年下跌20%。净管理费率收窄3个百分点至57个基点。

期内,整体资产管理规模已进入复苏轨道,按半年增长20%至180亿美元。该行又指,惠理宣布或根据市场情况回购股份,涉及最多1.856亿股,占已发行股份总数10%。

瑞信将公司的目标价由原来的6.5港元下调至4.7港元,以反映其上半年业绩;将公司2019至2020年每股盈利预测下调5至8%;及近期资本市场存不确定性等因素。维持其“中性”投资评级。

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