《大行報告》瑞信上調交行(03328.HK)目標價至6.1元 評級「中性」
瑞信發表報告表示,交行(03328.HK)去年盈利按年升11.9%,當中第四季盈利按年跌9.2%,其基本面正逐步改善,H股而言股息收益率達8%。
報告指,交行去年費用收入按年增長5.5%,較同行普遍的兩位數增長相對疲軟;存款增速較貸款放緩,主要受定期存款拉動;至於息差和不良貸款覆蓋率比率仍遠低於行業平均水平;以及CET-1比率下跌。
瑞信將交行今明兩年盈利預測上調7%及8%,對其業務前景感正面,目標價由4.9元升至6.1元,維持「中性」評級。
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