一文了解大行於建行(00939.HK)公佈季績後最新評級、目標價及觀點
建設銀行(00939.HK)早市股價靠穩,中金指建行上季業績優於預期,主要受其他非利息收入增長貢獻。建行近日公佈截至今年9月底止九個月業績,純利爲2,321.53億元人民幣按年增12.79%,每股盈利爲0.93元人民幣。建行今年首九個月利息淨收入按年增長4.87%。淨利差爲1.94%,淨利息收益率爲2.12%,分別較上年同期下降0.10和0.07個百分點。主要受利率市場化穩步推進、產品結構變化和存款競爭激烈等因素影響所致。手續費及傭金淨收入966.13億元,較上年同期增長6.21%。
單計第三季,建行盈利爲788.53億元人民幣,按年增15.61%,每股盈利爲0.32元人民幣。建行至9月底止,不良貸款率1.51%,較上年末下降0.05個百分點。撥備覆蓋率爲228.55%,較上年末上升14.96個百分點。
【季績呈鞏固 淨息差收窄】
花旗發表報告表示,建行今年第三季業績鞏固,受到交易收益及手續費收入增長帶動,但指淨息差按季收窄3個基點承壓,融資成本大致保持穩定,維持對其「買入」投資評級及目標價9.13元。
匯豐環球研究指建行第三季撥備前利潤(PPOP)穩固,旗下股本回報率、一級資本充足率等指標均優於同業,但淨息差收窄表現較同業爲多,成本收入比率呈惡化,該行維持對建行「買入投資評級及目標價8.8元。
本網綜合8間券商列出對其投資評級及目標價:
券商|評級|目標價(港元)
花旗|買入|9.13元
匯豐環球研究|買入|8.8元
摩根士丹利|增持|8.8元
中金|跑贏行業|8.52元
摩根大通|增持|8.2元
野村|買入|7.74元
美銀證券|買入|7.7元
瑞銀|買入|6.7元
券商|觀點
花旗|受交易收益和手續費收入增長支撐,三季度業績穩健
匯豐環球研究|第三季度淨利息收入負面,手續費費用收入正面
摩根士丹利|三季度利潤按年增長佳
中金|資產質量穩健,第三季度業績勝預期
摩根大通|第三季度淨利潤增長領先其他大型國有商銀
野村|因減值損失較低,三季度業績表現強勁
美銀證券|三季度盈利增長加速,經營趨勢穩定
瑞銀|收入均衡增長
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