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《大行报告》野村上调招行(03968.HK)目标价至70.8元 评级「买入」
阿思达克 03-22 10:31
野村发表报告指,招行(03968.HK)去年全年纯利按年增长4.8%,意味第四季录得按年32.7%的强劲反弹,主要由於拨备较低。全年拨备前营运溢利按年增长4.5%,第四季增幅5.6%,高於第三季的2.7%,主要受惠於净利息收入增长加速。不良贷款及关注类贷款比率亦为2014年以来新低,资产质素保持稳定。该行料未来利率正常化下,将支持招行盈利复苏,升招行今明两年盈测分别1.3%及0.5%,目标价相应自69.07元上调至70.8元,维持「买入」评级。

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