《大行報告》野村上調郵儲行(01658.HK)目標價至7.4元 評級「買入」
野村發表報告,預期今年1月內地下調一年及五年期貸款市場報價利率(LPR)對郵儲銀行(01658.HK)的負面影響最大,料其今明兩年淨息差分別降低2.3個基點及3.1個基點,而人行可能在今年年中再將一年期LPR利率降低10個基點。
不過,野村預期受強勁的貸款增長推動,郵儲行的貸存比率持續增加可部分抵銷貸款收益率的下跌,因此,該行將郵儲行今明兩年的淨息差預測分別調低8個基點及10個基點,兩年最新預測均爲2.35%。
野村將郵儲行股份目標價由6.78元上調至7.4元,評級維持「買入」,並調升其2021年至2023年盈利預測分別7%、6%及8%,以反映其非利息收入強勁勢頭。野村亦指郵儲行的資產質素持續改善。
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