《大行报告》瑞信下调邮储行(01658.HK)目标价至6.6元 评级「跑赢大市」
瑞信发表报告指,邮储行(01658.HK)首季纯利增长5.5%,逊该行及市场预期7%至8%,拨备前盈利按年增长7.2%属良好增幅,自去年全年倒退0.5%回复。净利息收益率按季扩阔2点子至2.4%,手续费收入录得按年52%的强劲增幅,其中主要受到经纪收入按年大增1.28倍的支持。资产质素亦稳定。
该行下调集团全年盈测3.5%,反映更多拨备,加上配股将进一步分薄每股盈利,目标价自7元下调至6.6元,基本因素仍然强劲,维持「跑赢大市」评级。
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