《大行報告》大摩:匯控(00005.HK)上季經調整除稅前利潤40億美元遜預期 目標價上調1%至59元
摩根士丹利發表研究報告,指匯控(00005.HK)去年末季經調整除稅前利潤40億美元,遜市場及該行預期分別3%及11%。收入大致符預期,淨息差略勝預期,惟被非利息收入放緩所抵銷;成本遜於預期,另撥備前經營溢利較市場預期高出6%,但遜該行預期2%。
報告引述匯控指,預期今年貸款錄中單位數增長,利率上升預期帶來正面淨息差展望。匯控並料於2023年達至少10%有形股本回報率,較先前預期提早一年。
該行補充,匯控資本回報符預期,末期息18美仙,大摩料為19美仙。匯控亦宣布加碼10億美元進行回購。該行上調匯控2022年、2024及2025年每股盈測2%至4%,以反映淨息差擴張及聯營收入,惟部分被非利息收入預測下調所抵銷。該行升匯控2023年每股盈測9.5%,因料稅率正常化較原先預期提早一年。目標價升1%,由58.2元升至59元,評級「與大市同步」。
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.