《大行報告》大摩料港銀股盈利復甦慢 全線調整目標價 降東亞(00023.HK)評級
摩根士丹利發表香港金融業今年展望報告表示,短期利率下降,意味著亞太區已發展地區銀行撥備前利潤呈疲弱復甦,但相信相關因素已大致在股價上大致反映,該行料港銀股今年盈利呈緩慢復甦,維持對行業「減持」評級。
該行指,市場基於短期利率較低令淨息差受壓,對港銀去年純利預測已下調19%至25%。短期利率需要提升才可以改善港銀股核心盈利能力,但預期相關情況不會在2023年下半年之前發生,故料港銀股在亞太區盈利復甦會較慢。
大摩指銀行股今年將恢復派息,但相信港銀股的股息回報不算吸引,料可對中銀香港(02388.HK)股價構成支持;重申對恆生銀行(00011.HK)「減持」評級,指恆生面臨盈利風險因素,目標價由105元升至123元;東亞銀行(00023.HK)評級由「與大市同步」下調至「減持」,其目標價由16元下調至14元。
該行亦調整其他港銀股目標價,匯控(00005.HK)目標價由33元上調至43元,維持「與大市同步」評級;渣打(02888.HK)目標價由41元升至51元,維持「與大市同步」評級;中銀香港目標價由24元下調至23元,維持「與大市同步」評級。(wl/u)
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