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《大行報告》大摩下調恆生(00011.HK)目標價至131.6元 評級「減持」
阿思達克 12-02 10:23
摩根士丹利發表報告指,由於淨息差擴張好過先前預期,將恆生銀行(00011.HK)今年度盈利預測下調10.2%,並將2023至2024年預測分別上調10.3%及7.4%。 惟大摩表示,由於恆生銀行旗下財富管理費用收入預測疲軟,特別是今年表現預期較差,因此將非淨利息收入預測相應下調,維持今年度成本預期不變,但亦提高明年及後年預測。 該行料恆生今年盈利預期較差,主要來自於中國房地產行業帶來的相關下行風險,令信貸成本較高,而該行預期2023至2024年信貸成本預測未變。 大摩表示,將恆生今年每股派息預測降至4.1元,目標價則由133.2元降至131.6元,相當預測明年市盈率12.3倍,以反映信用質量下行風險,維持「減持」評級。
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