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<Research>HSBC Research Lifts BOC HONG KONG's TP to $31.2, Top Pick Alongside HKEX Among HK Financials
Recommend 55 Positive 98 Negative 36 |
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HSBC Global Research has released a report indicating that there is a downside risk to the asset quality of Hong Kong banks, whereas NIM, fee income, and capital returns may face upside risks. HSBC Global Research lifted its credit cost forecast for Hong Kong banks to account for ongoing asset quality risks, particularly in commercial real estate and SMEs. However, the broker was not particularly concerned about the risks of individual companies such as CHINA VANKE (02202.HK) or NEW WORLD DEV (00017.HK). Among Hong Kong financial stocks, HSBC Global Research's top picks were HKEX (00388.HK) and BOC HONG KONG (02388.HK), both rated as Buy. The target price for BOC HONG KONG was mildly raised from $30.8 to $31.2, reflecting higher NIM and fee income estimates that are partially offset by higher credit costs. AAStocks Financial News |
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