《大行報告》瑞信下調民行(01988.HK)目標價至2.75元 評級「跑輸大市」
瑞信發表報告指,民生銀行(01988.HK)去年盈利按年增長0.2%至344億元人民幣,單計去年第四季盈利按年倒退63%,較該行及市場預期分別低2.3%及逾9%。
該行表示,下調民行目標價,由2.8元降至2.75元,維持「跑輸大市」評級,並調低民行今明兩年盈利預測分別2.1%及2.2%。
瑞信認為,民行表現有改善及股息收益率吸引,不過民行今年為其兩年整合計劃的第二年,資產及股本回報率料約6.5%,為該行覆蓋研究內銀中最低。
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