大摩:匯控(0005.HK)上季税前盈利遜市場預期9% 維持“減持”評級
摩根士丹利發表報告表示,匯豐控股(00005.HK)公佈第三季列帳除税前盈利低於市場原預期約9%,季度有形股本回報率為6.4%,經調整撥備前盈利略遜預期,撥備增加及聯屬收益下滑拖低了集團除税前盈利;而匯控亦取消了原先2020年有形股本回報率目標要多於11%目標。
該行稱,匯控重申進一步整頓美國、中歐及英國非分隔運作銀行業欠佳業務的意向。該行指,匯控經調收入錄135億美元,大致符合預期。
大摩表示,匯控未來收入前景存在挑戰,維持對其“減持”評級及目標價51港元,指現價相當今年預測有形資產淨值的1.1倍、市盈率12.7倍及股息回報6.4%。

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