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《大行報告》瑞銀一舉升恆生銀行(00011.HK)評級至「買入」 上調目標價165元
阿思達克 03-02 09:41
瑞銀發表報告,指恆生銀行(00011.HK)管理層暫停更新貸款的情況。該行關注恆生在去年貸款擴張1,250億的情況下,但餘額在年底下跌至160億元,而大部份貸款人償還貸款。雖然恆生不良貸款於下半年惡化,並於今年維持,但估計其需大幅調升撥備的可能性不大。

該行相信恆生銀行在疫情下的風險已大致反映,而今年下半年的持續增長動力帶動對每股盈利預期上升19%及明年升27%,上調目標價由110元升至165元,此相當預測2022年市賬率1.7倍及市盈率15倍,一舉將評級由「沽售」升至「買入」。

該行指,預期今年恆生銀行的復甦步伐溫和,但有更多明顯性的增長動力。至於派息方面,維持有彈性的派息政策,降一級核心資本充足率80點子,但升明年有形資產回報。

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