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大行評級|高盛:上調匯豐目標價至103港元 上季業績勝預期
格隆匯 02-20 12:49

高盛發表報告指,匯豐控股上季業績勝預期。在銀行業務淨利息收入帶動下,收入超出預期,但成本表現與預期持平,而且被高於預期的年終特別撥備部分抵銷。此外,由於2025財年銀行業務淨利息收入增長及2025財年成本增長低於預期,管理層公佈中期(2025至2027財年)ROTE指引目標爲14%至16%(mid-teens),高於目前市場預期。

由於考慮到第四季表現以及最新的管理層評論,該行對盈利預測作出調整,現時預期匯控2025和2026財年銀行業務淨利息收入約爲420億美元和430億美元,較先前預期高出約5億美元。高盛預期匯控2025至2027財年回購金額分別爲100億美元、80億美元及60億美元,而之前預測爲80億美元、60億美元及零,原因是管理層繼續承諾回購是超額資本回報的首選模式,以及利潤預測上升,資本相對於目標範圍充裕。該行維持匯控“買入”評級,目標價由93港元上調至103港元。

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