大行評級|摩根大通:將郵儲銀行列入正面催化劑觀察名單 目標價5.8港元
摩根大通發表報吿,將郵儲銀行列入正面催化劑觀察名單,重申“增持”評級,H股目標價5.8港元。報吿稱,郵儲銀行即將於10月30日公佈第三季業績,料屬短期股價驅動力。
報吿提及,郵儲銀行與中國郵政達成協議,降低其儲蓄代理費率,自今年7月起生效。報吿料這將減少郵儲銀行經營開支及促進第三季撥備前經營盈利增長復甦。摩通稱,由於郵儲銀行定期存款佔比屬內銀中最低之列,料受惠減息程度最大。
報吿亦稱,郵儲銀行相對國有四大行的估值溢價,由2023年初的50%收窄至今年10月的13%,主因其與四大行利潤表現差距收窄。摩通料隨着儲蓄代理費率下調及內地對稱減息下,郵儲銀行相對國有四大行的估值溢價料將再度擴張。
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