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一文綜合大行於渣打(02888.HK)公布業績後最新評級、目標價及觀點
渣打集團(02888.HK)昨股價走高2.7%後,今早股價偏好,最新報70.2元升0.5%。摩根士丹利上調對渣打目標價,由69.3元上調至79.7元,維持「增持」評級。該行指渣打去年第四季業績遜預期,但宏觀狀況改善推動管理層上調業績指引及預期更佳資本回報。該行上調對渣打今明兩年每股盈利預測,反映宏觀狀況改善支持短期撥備下降,以及中期更強勁收入增長與更佳的成本收入表現。 渣打昨中午收市後公布去年業績,法定除稅前溢利按年升28%至42.86億美元,低於於本網綜合7間券商預測下限的43.06億億元。法定普通股股東應佔溢利按年升34%至25.47億美元。派每股末期息14美仙,全年股息增加五成至每股18美仙。期內收入上升10%,淨利息收入上升18%,淨息差按年上升20個基點至1.41%。 渣打即將開始10億美元股份回購,略低於本網綜合4間券商預測中位數11.3億美元。集團預期將令普通股權一級資本比率下降約0.4個百分點。去年底有關資本水平為14%,按年跌0.1個百分點,但達到13%至14%目標範圍上限。 【盈利遜預期 前景指引佳】 美銀證券表示,下調對渣打2024年每股盈利預測6%,並指渣打退出業務組合拖累收入,縱使為改善成本收入比指引帶來正面貢獻。該行亦下調對渣打2024年收入預測,最新收入預測顯示渣打在扣除退出業務後,2022年及2023年各錄一成收入增長,為其8%至10%目標範圍上限。該行又指,渣打提供長期前瞻性指引,包括2024年後有型股本回報率繼續從2024年的逾11%上升。 瑞銀認為,渣打表明有能力在政策利率處周期高峰及信貸損失回落至正常水平下,做到有型股本回報率高於股本成本比率,該行又指,渣打確認預期2024年有型股本回報率超越11%,高於目前市場共識的10.1%。該行給予渣打「買入」評級,目標價78.5元。 --------------------------- 本網最新綜合7間券商對其投資評級及目標價: 券商│投資評級│目標價(港元) 高盛│中性│81元 摩根士丹利│增持│69.3元->79.7元 美銀證券│中性│78.89元 瑞銀│買入│78.5元 摩根大通│增持│78元 花旗│中性│76.5元 海通國際│優於大市│63.92元 券商│觀點 高盛│維持評級與目標價 摩根士丹利│宏觀環境改善推動經營溢利上升,風險環境改善 美銀證券│下調2024年每股盈利預測6% 瑞銀│撥備前溢利符預期,有型資本回報率略勝指引,回購增加 摩根大通│季度收入及資本回報勝預期,上調業績指引 花旗│收人及撥備遜預期 海通國際│營收基本符預期,減值損失拖累利潤 瑞信│核心稅前盈利遜預期 (fc/w) ~
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