《大行報告》大摩調低渣打(02888.HK)目標價至41元 料第三季基本稅前盈利跌54%
摩根士丹利發表研究報告,指出渣打集團(02888.HK)將於10月份最後一周公布今年第三季業績。由於低利率環境,料渣打季內收入壓力持續存在,財富及資本市場活動應比早前預期好。撥備或創新高。該行將渣打的目標價由原來的42元下調至41元,維持「與大市同步」投資評級
該行預期銀行業的淨息差會自第四季度開始穩定下來,再加上適度的資產增長,將會為銀行凈利息收入帶來支持。大摩料渣打今年第三季基本表現稅前盈利5.75億美元(按年跌53.5%及按跌21.5%),料稅前盈利按年跌50.4%至5.48億美元,料營運收入錄35.98億美元按年跌9.6%,預期渣打今年第三季淨利息收入將會按季下降11%。
大摩預期渣打今年下半年香港及英國市場有所惡化,因為宏觀因素在下半年變得更為負面。該行預期渣打在第三季的撥備為6.75億美元(按年大升1.4倍及按季升10.6%)。
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