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《大行報告》美銀證券升渣打(02888.HK)目標價至59.29元 收入增長動力加快
阿思達克 02-16 12:06
美銀證券發表研究報告,指渣打集團(02888.HK)迎來更有利環境,其損益表的外部支持正在加強。利率展望趨明朗,短期同業拆息利續低迷,但前瞻曲線本年至今累升25點子。渣打主權債組合以短債為主,意味較快迎來利率上升的好處。亞洲區交易正加快,另油價轉強對該行收入及撥備展望利好。

報告稱,料渣打收入增長動力在今年首季見底反彈,隨後快速復甦;並支持渣打2022年預測經營溢利較2020年倍升。美銀證券稱,渣打正迎來收入增長及經營槓桿。

美銀證券稱,資本管理是渣打核心機遇。該行料渣打去年普通股權資本充足率(CET1)達13.8%,經歷去年的震盪後,剩餘資本顯得奢侈。相較現時13.5%的CET1中點,即使0.3個百分點的剩餘CET1,也相當於8億美元或渣打4%市值。該行認為,去年強勁資本狀況及風險表現可給予管理層信心,逐漸降低CET1。該行重申予渣打「買入」評級,目標價由58.08元升至59.29元。

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