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大行評級丨瑞銀:升交通銀行(3328.HK)目標價至5.95港元,評級“中性”
瑞銀表示,維持交通銀行(3328.HK)“中性”評級,目標價由4.7港元上調至5.95港元。該行表示,交行首季業績優於預期,其估值已回升至大致符合與國企同業水平(2024年市賬率為0.43倍,而四大國有銀行平均市賬率為0.43倍)。雖然瑞銀並略微調整預測,但仍對交行持謹慎態度,不過對以下因素的擔憂有所減少:1)淨利息收入增長及淨息差或比同業更穩定;2)隨着更強而有力的政策出台,對房地產和地方政府融資平台(LGFV)違約風險的擔憂有所緩解。
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