《大行報告》大摩上調匯控(00005.HK)目標價至48元 評級「與大市同步」
摩根士丹利發表報告,上調匯豐控股(00005.HK)今年全年每股盈利預測21%,2022年及2023年亦分別上調13%及8%,以反映今明兩年預期信貸損失減少,及預期淨息差自2023年起可提升。該行預計今年全年匯控將錄得1.7億美元信貸回撥,明年則作出25億美元撥備,即信貸損失22個點子,低於匯控中期預測的30至40個點子區間。該行料匯控2023年淨利息收入可錄得8%增長,同時料當年營運成本將上升,信貸成本29點子。
該行並預計匯控將於第四季公佈5億美元回購計劃,其後分別於2022年及2023年進行20億美元回購,料今年全年維持0.24美元派息,下調2022年及2023年派息預測至分別28美仙及36美仙,早前預測分別爲30美仙及38美仙。該行上調匯控目標價,自46元上調至48元。雖匯控表現穩健,惟相信有更好投資對象,維持「與大市同步」評級。
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