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<Research>HSBC Research Raises TP of BOC HONG KONG (02388.HK) to HKD51, Maintains Buy Rating
Recommend 9 Positive 11 Negative 8 |
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HSBC Global Investment Research released a report on BOC HONG KONG (02388.HK), which saw its EPS grow by 4.9% YoY to HKD3.79 in 2025, topping both HSBC's and market's expectations by 2% and 3.7%, respectively. The full-year DPS added 6.8% YoY to HKD2.12, with the payout ratio hiking to 56%. The management mentioned for the first time a three-year shareholder return plan for 2026-28, potentially including increasing the payout ratio, engaging in share buybacks, or paying special dividends, which could serve as a mid-term catalyst. In view of the improved NIM outlook and the reduced rate cut expectations, HSBC Global Investment Research raised BOCHK's earnings forecasts for 2026 and 2027 by 6.9% and 0.5%, respectively. The TP was increased from HKD49 to HKD51, with a Buy rating kept. AASTOCKS Financial News Website: www.aastocks.com |
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