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摩通:降中銀香港(2388.HK)目標價至30.6港元 評級“增持”
格隆匯 10-29 11:49

摩通大通發表報告指,相信中銀香港(02388.HK)今年信貸增長將放緩至8%,屬金融海嘯以來最低水平(撇除2015年因出售南商而錄按年下跌),惟仍保持韌性,短期內淨息差料將收窄,信貸成本亦料上升。

以由上而下角度分析,摩通對本港銀行業持審慎看法,惟相信中銀可跑贏同業,由於其資金水平較佳,派息率亦高於同業。摩通相信中銀可維持股本回報率於11%至12%水平,維持“增持”評級,目標價自37.8港元下調至30.6港元。

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