《大行報告》富瑞降匯控英股目標價至980便士 評級「買入」
富瑞發表研究報告指,匯控(00005.HK)今明兩年有形股本回報率(ROTE)有望維持15%至16%水平,該行有計劃透過回購、派發普通股息及特別股息等方式回報股東,加上適度的正面盈利預測調整,以及加拿大業務剝離獲批,因此有理由相信匯控今年發展前景明朗。
在淨資產方面,計及出售法國零售業務、交易賬款融資成本上升及國債持貨減少,預期將拖累淨利息收入減少1%至2%,因此富瑞相應將2024及2025年經調整撥備前利潤預測下調4%。
富瑞預期匯控近期基本業績及資本回報水平將保持平穩,預計去年第四季香港銀行同業拆息表現將有所改善,使該行的香港業務按季淨資產收益率保持穩定,將英股目標價下調至980便士,評級仍為「買入」。
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