《大行報告》匯豐研究下調民行(01988.HK)目標價至2.5元 評級「持有」
匯豐研究發表報告指,即使民行(01988.HK)去年撥備前利潤跌24%,但其去年每股盈測大致上按年持平,主要是減值開支減少;該行指,民行去年下半年淨息差按半年收窄10個基點,主要是資產收益率降幅大於存款成本的降幅,預料今年或會進一步壓縮。
該行表示,對民行去年業績表現持負面看法,主因去年撥備前利潤急跌,淨息差和收費表現不及同業。該行表示,將民行今年及明年每股盈測分別下調2.6%及10.7%,同時將其目標價由2.8元下調至2.5元,維持其H股評級為「持有」。
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