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<Research>JPM Expects HSBC HOLDINGS (00005.HK) to Outperform HK Banks, but Underperform State-owned Banks
Recommend 23 Positive 43 Negative 21 |
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HSBC HOLDINGS (00005.HK)/ STANCHART (02888.HK) spiked a total of 19%/ 25% YTD, compared to the HSI's incline of about 21% in the same period, JPMorgan released a research report saying. The broker found that investors are increasingly worried about the US growth risk on the impact of the interest rate trend, which in turn affects the two banks' earnings outlook and valuation. Due to a higher overall return rate, JPMorgan expected HSBC HOLDINGS to outperform STANCHART and Hong Kong's banks, but may underperform Chinese state-owned banks. Therefore, JPMorgan raised its 2025-2027 fee and other income forecasts by 2%/ 4%/ 4%, and net profit forecasts by 2%/ 2%/ 3%. The broker also elevated its target price to $115 from $108, with rating at Overweight. AAStocks Financial News |
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