《大行報告》美銀證券上調中行(03988.HK)目標價至4.02元 去年盈利勝預期股息率吸引
美銀證券發表研報指,中行(03988.HK)去年度年 AT1分配前淨利潤按年增長5%,較美銀預測高1.9%,撥備前利潤增長2.3%,則較預測低0.8%。派息比率上升至31.9%,每股派息增長5%,淨收益率高達8.8%,回報吸引。
基於其高收益及穩定增長,美銀證券重申「買入」評級,認為去年第四季淨息差下降,業務增長穩健,資產質量和覆蓋比率大致穩定,將2023至2025每股盈利預測上調4.8%、6.4%及4.3%,至0.76、0.81及0.85元人民幣,目標價從3.49港元調升至4.02港元。(gc/u)
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