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《大行報告》花旗:聯儲局減息損港銀盈利前景 下調恆生、中銀及大新系評級
阿思達克 03-04 09:53
就美聯儲局昨晚(3日)突宣布減息,花旗發表報告表示,聯儲局減息損害本港銀行盈利前景,後者面臨內生風險上升,對本港銀行看法更趨審慎,決定一舉下調對恆生銀行(00011.HK)投資評級,由「買入」降至「沽售」,將目標價由180元降至140元;將中銀香港(02388.HK)投資評級,由「買入」降至「中性」,將目標價由30.6元降至28元;同下調大新金融(00440.HK)及大新銀行集團(02356.HK)評級,均由「中性」降至「沽售」。該行表示,本地大型銀行股今年以來股價累跌3%,表現跑贏本港上市的國際銀行股(匯控(00005.HK)及渣打(02888.HK)各累跌14%及22%)、其他亞太區銀行、美國的銀行(累跌16%)、歐洲銀行等,相信恆生銀行對利率變化最為敏感,料面對更大盈利下行壓力。花旗最新對港銀股的喜歡次序,第一是中銀香港(予「中性」評級)、第二是渣打,第三是匯控、第四是恆生、第五是大新金融、第六是大新銀行、第七才是東亞銀行(00023.HK)。花旗指,料聯儲局今年各下調息率各25基點兩次、明年再減息一次,決定下調對恆生銀行純利預測7%至13%,降中銀盈利預測5%至7%。花旗現預期恆生今年每股盈利料按年跌17%,中銀每股盈利則按年料跌14%。倘未來美聯儲減息多於三次,恆生及中銀盈利前景料有進一步下行壓力。
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