一文了解券商於農行(01288.HK)公布季績後最新評級、目標價及觀點
農業銀行(01288.HK)今早股價靠穩。瑞銀指農行今年第三季盈利增長略優預期,受惠於淨利息收入及交易表現強勁所帶動。農行昨收後公布截至今年9月底止第三季,營業額按年升12.66%至1,796.27億元人民幣,純利按年升14.04%至644.31億人民幣。每股收益0.16元人民幣。
農行今年首三季營業額升9.35%至5,458.81億人民幣。純利按年升12.93%至1,867.09億人民幣。淨利息收入按年升5.86%至4,297.17億人民幣。淨利息收益率為2.12%。手續費及佣金淨收入按年升6.53%至654.76億人民幣。截至9月30日,不良貸款餘額2,501.63億人民幣,比上年末增加130.5億人民幣;不良貸款率1.48%,比上年末下降0.09個百分點。撥備覆蓋率288.04%,比上年末上升27.4個百分點。
【季績略勝預期 淨利息收入佳】
星展發表報告表示,農行首三季盈利按年增長12.7%,相當於該行及市場對其今年全年預測84%,第三季盈利按年升15%,主要受淨利息收入(按年升8.5%)鞏固及貸款需求穩定淨息差表現,及受益息債券息率上升,並認為其資產質素受控。該行維持對農行「買入」評級,上調對其目標價由3.57元升至4.15元。
摩根士丹利表示,農行今年第三季純利按年升14%至644億人民幣,撥備前經營利潤(PPoP)按年升15%,受淨利息收入穩定增長所帶動、錄得較高交易收益及資產質素改善。該行認為農行首九個月業績鞏固,料可確保其今年全年業績健康及派息增長,維持「增持」評級及目標價4.2元。
本網綜合6間券商列出對其投資評級及目標價:
券商|評級|目標價(港元)
摩根士丹利|增持|4.2元
星展|買入|3.57->4.15元
匯豐環球研究|買入|4.1元
野村|買入|3.58元
摩根大通|增持|3.35元
瑞銀|中性|2.6元
券商|觀點
摩根士丹利|第三季利潤增長強勁,料全年利潤和股息健康增長
星展|信貸需求推動淨利息收入穩健增長
匯豐環球研究|首三季業績增長溫和,穩健盈利增長貸款損失準備金見改善
野村|淨息差穩定帶動第三季度淨利潤按年增14%
摩根大通|季績優預期,撥備前經營利潤增長加快
瑞銀|淨利息收入增長強勁,推動第三季利潤增長勝預期
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