《大行报告》摩通上调建行(00939.HK)目标价至8.8元 评级「增持」
摩根大通发表研究报告,指建行(00939.HK)管理层对今年业务展望给予更具质素的意见,多於数字上的指引。管理层维持较保守的态度。
该行指,在资产质素方面,管理层认为前景好坏参半,采取暂缓措施来缓解贷款风险,而与地方政府相关的信贷风险持续影响资产质素。净息差方面,管理层指第四季见稳定,但今年压力持续。手续费用增长方面,主要来自财富管理,不过去年因疫情而下调的费用难以再调整。
该行表示,有关保守的态度符预期,而管理层在其他方面,包括存款增长、零售银行的领导地位、政策风险、金融科技发展、派息政策方面都较乐观,重申「增持」评级,目标价由8.7元升至8.8元。
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