大行評級 | 瑞銀:香港銀行股估值低於歷史平均水平,維持恆生、中銀香港買入評級
格隆匯1月14日丨瑞銀髮表報告指,就基本面而言,預測香港銀行業在2022至2023年的盈利增長將達到14%至16%。而目前銀行股的估值低於歷史平均水平,主要是受市場情緒疲軟影響,仍未充分反映到美聯儲加息帶來的作用,若有形股本回報率(ROTE)在盈利上升方面有所改善,香港本地銀行股料將獲市場重評。
報告指,美國可能加息對銀行股帶來的幫助即將到來,由於香港拆息的上升緊隨美聯儲加息的步伐,預計香港銀行的淨利潤率在2022至2023年將按年擴大5至11個基點。該行維持恆生(0011.HK)買入評級,目標價由165港元升至178港元;中銀香港(2388.HK)亦維持“買入”評級,目標價維持34港元;予東亞(0023.HK)評級由“沽售”升至“中性”,目標價由12.8港元略降至12.5港元。
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