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《大行报告》美银证券升渣打(02888.HK)目标价至59.29元 收入增长动力加快
阿思达克 02-16 12:06
美银证券发表研究报告,指渣打集团(02888.HK)迎来更有利环境,其损益表的外部支持正在加强。利率展望趋明朗,短期同业拆息利续低迷,但前瞻曲线本年至今累升25点子。渣打主权债组合以短债为主,意味较快迎来利率上升的好处。亚洲区交易正加快,另油价转强对该行收入及拨备展望利好。

报告称,料渣打收入增长动力在今年首季见底反弹,随後快速复苏;并支持渣打2022年预测经营溢利较2020年倍升。美银证券称,渣打正迎来收入增长及经营杠杆。

美银证券称,资本管理是渣打核心机遇。该行料渣打去年普通股权资本充足率(CET1)达13.8%,经历去年的震荡後,剩余资本显得奢侈。相较现时13.5%的CET1中点,即使0.3个百分点的剩余CET1,也相当於8亿美元或渣打4%市值。该行认为,去年强劲资本状况及风险表现可给予管理层信心,逐渐降低CET1。该行重申予渣打「买入」评级,目标价由58.08元升至59.29元。

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