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大和:升工行(1398.HK)評級至“買入” 目標價上調至7.2港元
格隆匯 11-29 14:44
大和發表報告上調工行(1398.HK) 評級,自“ 跑贏大市 ”升級至“ 買入 ”,相信明年工行淨利息收益率表現將跑贏同業,由於其存款及貸款定價能力高於同業,料2020年至2021年淨利息收益率僅調整3點子至4點子,相對同業調整幅度將高達6點子至10點子。
報告並指,工行面對宏觀經濟環境具防守性,壞賬及小微企所佔貸款比率下降。基於淨利息收益率下調(之前預測按年持平),該行降工行今明兩年每股盈利預測4%,調整估值基準後目標價自6.6港元上調至7.2港元。

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