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《大行報告》美銀證券上調交行(03328.HK)目標價至5.45元 評級「跑輸大市」
美銀證券發表報告指,交通銀行(03328.HK)去年AT1分配前純利按年增長5.2%,升幅稍遜於同業,但較該行預期高出2.1%。撥備前利潤按年下跌1.3%,符合預期。 該行指,交行去年股本回報率下降0.4個百分點至10.3%,去年第四季普通股權一級資本比率下降至10.06%,水平趨緊。去年派息比率則提升至32.7%,股息回報達8.6%。 美銀證券維持交行「跑輸大市」評級,表示更看好農行(01288.HK)及中行(03988.HK)的股息回報及普通股權一級資本比率水平,將交行今明兩年盈利預測上調約3%至4%,將目標價由4.92元升至5.45元,以部分反映匯率因素的影響。
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