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<Research>Citi Elevates HSBC HOLDINGS (00005.HK) TP to $138.3, Estimates 19-20% RoTE in 2027-28
Recommend 16 Positive 23 Negative 5 |
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Citi Research issued a research report lowering its 2025-2027 EPS forecasts for HSBC HOLDINGS (00005.HK) by 0-1%, and introducing a 2028 forecast for the first time. This slight decline mainly reflects the assumption of an additional Fed rate cut in 2026. Despite this, the broker's forecast remains 2-9% higher than the Company's latest collected market consensus adjusted profit before tax, primarily benefiting from higher revenue assumptions, especially strong non-interest income growth in the Asian wealth business. Citi Research believed that HSBC HOLDINGS can achieve a return on tangible equity (RoTE) of approx. 19-20% in 2027-2028. With the introduction of the 2028 forecast, the broker extended the terminal year in its valuation model, thus elevating its target price from $127.8 to $138.3, with rating reiterated at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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