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大行評級|星展:上調建設銀行目標價至8.8港元 受惠於財政政策令樓市回穩
格隆匯 03-05 10:39
星展報告預測,建設銀行去年盈利將按年持平符預期,對比國家金融監管總局報告去年大型商業銀行盈利按年跌0.5%。該行指建行去年首三季交出11%股本回報率,爲四大國有銀行中最高,料全年保持相若水平。該行基於上調對中國利率預測,一年期貸款市場報價利率預測由減少50個基點調整至減少30個基點,上調對建行今明兩年淨息差假設2個基點,預期今年淨息差呈中單位數下降,反映貸款及存款再定價,並因而上調今明兩年盈利預測1%。該行又指,投資者主要憂慮建行高於同業的中國房地產業風險敞口,但中國財政刺激政策將支持樓市,預期物業價格逐步回穩,有利建行股價。該行把建行目標價由7港元上調至8.8港元,重申“買入”評級。
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