《大行報告》中金上調匯控(00005.HK)目標價至62.32元 次季業績大幅高於預期
中金發表研究報告指出,匯控(00005.HK)第二季收入127.72億美元,按年增長1.6%;歸屬母公司普通股股東淨利潤54.86億美元,按年增長61.5%,大幅高於該行預期,主要來自利率上升帶動淨利息收入改善、經營費用控制良好、撥備計提好於預期以及遞延所得稅資產的一次性因素。
該行認為,匯控成本削減計劃目前尚有10億美元削減和24億美元達標支出有待完成,預計下半年達標支出與出售法國零售業務會給公司營業費用帶來一定短期壓力,但中長期看,當前匯控成本紀律性顯著好於歷史水平。此外,該行料由於宏觀經濟預期轉弱,匯控下半年信用成本或將走高,估計全年信用成本有望保持在0.25%。
另外,中金指由於遞延所得稅一次性影響及費用管控良好,分別上調對匯控的2022及2023年盈利預測43.4%及12.4%,至132.24億及186.47億美元。維持對其「中性」評級 ,上調目標價8.9%至62.32元。
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