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《大行报告》瑞信上调华泰证券(06886.HK)目标价至19.3元 评级「跑赢大市」
阿思达克 05-03 10:15
瑞信发表的研究报告指,华泰证券(06886.HK)首季净利33亿元人民币(下同),按年升15%,按季则升67%,年率化股本回报率为10.1%,较去年同期高81个基点,主要受惠经调整财务杠杆进一步提升。期内经营收入按年升28%,按季则升24%,主要受惠投行费用提升,加上在经纪业务市场份额增长,以及融资融券及投资收益稳健。不过该行认为公司经营效率较弱,加上信贷减值亏损增加亦令净利增长弱於同业,期内开支及收入比率提升4个百分点至48.4%,主要受企业及行政开支较高所拖累。

该行将公司2021-22年每股盈测微调,目标价由18.5元升至19.3元,评级维持「跑赢大市」。(el/a) ~

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