《大行报告》摩通降汇控伦敦目标价至400便士 评级「减持」
摩通发表研究报告,指汇丰控股(00005.HK)及渣打集团(02888.HK)的香港盈利前景面临巨大压力,这是由於今年首季本港银行同业拆息下跌178个基点;香港失业率上升至现时6.2%水平,宏观环境出现恶化;新一波疫情令政府更新限制措施;以及中美之间的紧张局势升温。
随着汇控深化重组,该行相信公司的估值会维持低企,因为集团依靠大中华区的收益来支撑环球银行业务的净资产收益率较低。另外,亦看到其未来的派息比率较低,维持其「减持」投资评级,伦敦目标价由510便士下调至400便士;更为看好渣打集团,给予「增持」投资评级,伦敦目标价580便士。
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