大摩:予匯控(0005.HK)大市同步評級 目標價36港元
摩根士丹利發表研究報告表示,匯控(0005.HK)與分析師召開了電話會議,瞭解第二季度業績。
報告表示,匯控管理層指導保持不變,較低利率的影響繼續影響淨息差(NIM),加上下半年環球銀行和市場 (GBM) 部收入正常化,大摩預計,匯控下半年收入將由上半年的262億美元下降至233億美元;預計下半年信貸預期信貸損失(ECL)比上半年減少至36億美元,並認為進一步隔離封城的可能性下降,限制ECL的下行風險,但也在降低V型復甦的可能性。
該行表示,朝着匯控預計風險加權資產(RWA)有中高至個位數增長,下半年加速。另外,最近幾周美元疲軟將推高收入和利潤的成本。管理層繼續致力於降低長期支出目標,但只能在此方面更新市場和全年的資本分配。大摩予匯控目標價36港元及與大市同步評級。

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 this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.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.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.