《大行報告》摩通降遠東宏信(03360.HK)目標價至8.9元 業績符預期
摩根大通發表報告指,遠東宏信(03360.HK)2023年業績表現基本符合該行的預期,主要因為信貸成本下降而抵銷比預期弱的收入動能。該行考慮到公司投資組合成長放緩,以及費用收入收縮幅度擴大的因素,將公司2024年及2025年各年盈測分別下調3%及11%。不過考慮到公司努力提高股東回報的表現,維持「增持」評級,目標價則由9.4元下調至8.9元,
摩根大通亦指,儘管現時宏觀前景仍存在高度不確定性,不過遠東宏信管理層對未來12個月控制資產質素的信心更強,因此該公司在釋放超額準備金上有更大的靈活性,在負面意外有限情況下,將信貸成本保持在相對較低的水平。公司管理層預計2024年的工業營運相比傳統租賃業務,將有更好的成長動力。
另一方面,受城市公用事業和醫療保健領域兩位數下滑所拖累,2023年租賃投資組合年按年下降1%。公司管理層預期,基本需求在短期內不會大幅回升,因此2024年公司投資組合成長最多會保持在低單位數水平。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.