《大行報告》大摩上調匯控(00005.HK)目標價至72.9元 評級「增持」
摩根士丹利發表報告指,匯控(00005.HK)第三季撥備前盈利(PPoP)符合市場預期,經調整其他收入較佳、抵銷成本增加2%的影響,普通股權一級資本(CET 1)較市場預期高出20點子,集團宣布30億美元回購計劃,金額高於市場預期的20億美元。淨利息收入符合預期,淨息差按季收窄2點子至1.7厘。成本較市場預期高2%,管理層預期全年成本增加4%,較之前預期的3%為高。
該行因應匯控季績表現,將今年盈利預測下調0.5%,明年則上調0.2%、2025年下調0.3%,預計高利率環境持續,淨息差預測較高,因此上調淨利息收入預測;同時下調今明兩年的非利息收入預測,主要受財資收入影響。目標價上調1%至72.9元,維持「增持」評級。
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