《大行報告》摩通下調工行(01398.HK)目標價至5.1元 評級「中性」
摩根大通發表研究報告,將工商銀行(01398.HK)目標價由5.2元下調1.9%至5.1元,維持評級「中性」。該行將工商銀行2021和2022的盈利預測分別上調1.2%和上調1.2%,以反映其去年第三季業績和人民銀行在上月21日下調貸款市場報價利率(LPR)5個基點。
摩根大通認為,工行收購財政狀況疲弱的錦州銀行10.82%股權,擔心該交易可能會令投資者之一工商銀行管理層的利益與少數股東的利益不完全一致,或會造成多重估值向下重評的風險。
不過摩根大通指出,工行策略審慎,對非標準化資產的敞口低,其核心一級資本比率是同業中最高的之一,成本佔收入比率繼續呈下降趨勢。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.