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摩通上調中銀香港(02388.HK)目標價至27.8元 降東亞(00023.HK)至15.1元
阿思達克 05-13 10:09
摩根大通發表報告指,港銀本年至今股價走勢各異,首季業績表現則大致符該行預期。該行認為,港銀利潤率將持續受壓,行業盈利表現或於近期向下,雖然近期股價已達低位,惟由於未見有刺激股價因素,相信因估值低而跑贏的機會不大。該行港銀首選仍為中銀香港(2388.HK),評級「增持」,目標價自27.6元稍上調至27.8元。東亞(00023.HK)目標價則自15.2元下調至15.1元。

該行指,現時寬鬆流動性影響港銀盈利表現,而且料有關情況將會維持。港府支持經濟之措施,包括由政府擔保之中小企貸款,或有助銀行維持貸款質素,惟相信上半年信貸成本仍將於高水平維持。早前流動性緊張的情況下,港銀之資本要求亦受到放寬,降低逆周期緩衝資本對銀行普通股權一級資本之正面影響為1.1至1.7個百分點。

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