《大行報告》瑞信升郵儲銀行(01658.HK)目標價至7元 評級「跑贏大市」
瑞信發表研究報告,指郵儲銀行(01658.HK)管理層在業績後更新經營展望,有信心淨息差逐漸穩定,指貸款市場報價利率(LPR)過渡工作已完成,貸存比率上升。郵儲行料貸存比率由現時的56.7%升至明年的60%。此外,存款定價機制改革料有利郵儲行,並有意減少高成本較長期存款,在滿期時由理財產品取代。
報告引述郵儲銀行稱,目標今年手續費收入按年升20%。現時手續費對收入佔比僅7.2%,有重大上升空間。展望未來,管理層指其財管業務有三大優勢,廣大客戶基礎,在偏遠城市有品牌知名度,以及管轄資產有重大上行空間。
瑞信認為郵儲銀行發展策略穩定及有效,上調其2021-23年每股盈測2.1%至3.1%,以反映次季業績勝預期。目標價由6.6元升至7元,維持評級「跑贏大市」。
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