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<Research>BOCI Chops ICBC's TP to $7.14, Keeps Rating as Buy
Recommend 11 Positive 14 Negative 7 |
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While ICBC (01398.HK)'s asset quality improved, its earnings were under pressure in 1Q25, BOCI wrote in its report. The bank's net profit declined by 4% YoY, compared to a YoY growth of 0.5% in the entire year of 2024. Because of its narrowed net interest margin, its net interest income fell by 2.9% YoY in 1Q25. Considering ICBC's current valuation attractive, BOCI lowered its target price for the bank to $7.14, with a Buy rating remaining in place. AAStocks Financial News |
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