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《大行報告》中金:招行(03968.HK)業績有韌性 未來有期待
阿思達克 01-22 12:25
中金髮表報告指,招商銀行(03968.HK)發佈2023年業績快報,預告全年營收按年降低1.64%、淨利潤按年增長6.22%,營收略超市場預期,主要由於其他非息收入高增。上季不良率環比降低1個基點至 0.95%,撥備覆蓋率按季降低13.1個百分點至437.7%。其中,上季單季度營收、利潤增長速度與首三季大體保持平穩。公司全年ROE降低0.84個百分點至16.22%,該行預計仍保持在可比同業前列。 中金指,目前公司A股動態股息率爲 6.5%,認爲目前估值已充分反映投資者對短期業績下行的擔憂,穩定的盈利能力和高股息回報有望吸引中長期配置資金從而夯實估值底部。因此維持盈利預測與估值不變。招行H股目標價35.35元,維持「跑贏行業」評級。
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