高盛:維持中銀香港(2388.HK)目標價33.6港元 評級“買入”
高盛發佈報告稱,維持中銀香港(2388.HK)目標價33.6港元及“買入”評級不變。
該行表示,中銀香港將於3月27日收市後報告去財年業績。該行認為,業績重點將放在公共衞生事件對客户現金流的程度及對信用質量的預期影響;管理層緩解利率及香港銀行同業拆息(HIBOR)下降帶來的利潤下降;資本的靈活性,以隨着增長放緩而適度提高股息分配及資本水平仍然很高;成本的靈活性,由於收入增長轉為負數,但隨着虛擬銀行的競爭而中期科技投入增加。
該行稱,預計2020年中銀香港的每股盈利預測下降13%,還預計貸款增長7%,但遭毛利率壓力抵銷,以及營業費用和信貸成本繼續上升。中銀香港股價自1月17日年初以來的最高點下跌了27%,表現落後恆指5個百分點。

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