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<Research>JPM: ST Impact of Privatization of HANG SENG BANK Reflects in HSBC HOLDINGS' Shr Price
Recommend 24 Positive 26 Negative 28 |
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JPMorgan released a research report believing that the short-term impact of the plan to privatize HANG SENG BANK (00011.HK) has already been reflected in HSBC HOLDINGS (00005.HK)'s share price. Investors may not factor in long-term synergies until management provides more quantitative guidance. The 3Q25 results will be a short-term driver for stock prices, with transaction costs and credit costs due to exposure to Hong Kong commercial real estate (CRE) being key variables. Furthermore, STANCHART (02888.HK) stumbled 5.1% on 17 October, underperforming the HSI/ HSBC HOLDINGS by 2.6/ 3.1 ppts each, possibly due to investors' risk-off sentiment on US credit risk events. JPMorgan kept ratings at Overweight for both HSBC HOLDINGS and STANCHART, but preferred STANCHART on a 6-month investment outlook. The broker kept its target price for HSBC HOLDINGS at $122, and lifted its target price for STANCHART from $162 to $168. AASTOCKS Financial News Website: www.aastocks.com |
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