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<Research>Citi Lowers HANG SENG BANK's TP to HKD131; Rating Kept Buy
Recommend 12 Positive 24 Negative 7 |
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Based on HANG SENG BANK (00011.HK)'s 1H25 results, Citi released a report lowering its FY25 EPS forecast for the bank by 24% in light of rising credit costs and reduced net interest income resulting from lower HIBOR assumptions. Meanwhile, the broker lifted its FY26-27 EPS forecasts for HANG SENG BANK by 1%, given the announced HKD3 billion share buyback, better non-interest income, and lower operating expenses, though they were partially offset by more conservative credit cost assumptions. Citi mildly trimmed its target price for HANG SENG BANK from HKD135 to HKD131 and kept the Buy rating unchanged. AAStocks Financial News |
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