《大行報告》大和上調交行(03328.HK)目標價至5.8元 評級「跑贏大市」
大和發表報告指,下調交行(03328.HK)今明兩年撥備前經營利潤預測8%至11%,淨利潤預測下調5%至10%,主要是由於疫後經濟增長慢於預期。但將未來12個月目標市賬率由0.37倍提高到0.41倍,因為疫後宏觀環境更好,而且資產質量改善,目標價相應由5.3元提高到5.8元,並重申「跑贏大市」評級。
報告指,在疫後復甦和正常季節性中,今年首季貸款分發速度有所加快。企業貸款仍然佔新增貸款的大部分,而零售貸款餘額增長相對緩慢。交行預計消費貸款業務將進一步擴展到其他場景,如購買汽車,今年增長率有望按年加快。
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