《大行報告》高盛降招行(03968.HK)評級至「中性」 下調郵儲行(01658.HK)至「沽售」
高盛發表研究報告指,去年11月起郵儲行(01658.HK)及招行(03968.HK)等零售銀行股價表現跑贏大市,相信是受到市場對重新開放後消費金融復甦的預期所推動。
考慮到房貸增長與銀行的消費金融業務之間存在很強的相關性,該行預期零售銀行的收入復甦步伐將受到房貸提前償還風險的影響,料將拖累淨利息收入及手續費增長。
高盛表示,目前更看好專注於企業服務的銀行,包括工行(01398.HK)及建行(00939.HK),認為基礎建設項目的企業貸款需求較高,重申對工行及建行 的「買入」評級,目標價分別上調至4.98元及6.07元。
高盛並將招行評級從「買入」下調至「中性」,目標價降至43.15元,而郵儲行評級則從「中性」降至「沽售」,目標價下調至4元。
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