You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
星展下調匯控(00005.HK)目標價至40.6元 降今兩年盈利預測各33%及20%
阿思達克 04-29 14:35
星展發表研究報告,指匯豐控股(00005.HK)首季收入跌5%,主因市況波動影響其壽險和投資銀行業務,經調整淨利息收入跌1.9%,淨息差收窄4個基點至1.54%,經調整稅前盈利跌51.3%,主因信貸減值增加所致,一級核心資本比率穩定在14.6%。

該行指,匯豐控股預期今年淨利息收入會因低息環境減少30億美元,雖然銀行盡力去控制成本,但盈利仍然受信貸虧損所影響,公司已暫時延期部份轉型計劃,包括減少風險資產、重組計劃。經調整成本預期跌3%,風險資產預期會增加中單位數。

星展表示,若疫情或信貸風險改善,料可會成為匯控股價催化劑。該行決定下調對匯控2020及2021年盈利預測分別33%及20%,以反映收入放慢,將目標價由53.9元降至40.6元,維持「持有」評級,而公司股價今年已調整32.5%,相信已反映疫情和今年不派息的情況。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account