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<Research>CICC Likes BANK OF CHINA (03988.HK) on Continued Benefits from Leading Advantage in Global Footprint, Keeps Outperform Rating
Recommend 12 Positive 17 Negative 6 |
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BANK OF CHINA (03988.HK) is the most globalized and integrated bank in China, CICC issued a research report saying. The broker believed that BANK OF CHINA's global business can continue to maintain a high market share, and its high-growth global operations may drive the Company to deliver better-than-peers results. CICC was optimistic that BANK OF CHINA will continue to benefit from its leading advantage in global footprint, coupled with resilient overseas interest rates. As a result, the broker raised its 2026/ 2027 net profit forecasts for the Company by 1.5%/ 2.6% to RMB250.8 billion/ RMB258.5 billion, respectively. The broker kept ratings at Outperform, and raised its target prices for BANK OF CHINA's A-/ H-shares by 11.7%/ 18.1% to RMB7.25/ $6.39, implying PB ratios of 0.8x/ 0.6x for both 2026 and 2027, and representing 25.1% upside from the current share price. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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