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<Research>DBS Trims CCB (00939.HK) TP to $7.9, Rating Buy
Recommend 20 Positive 23 Negative 14 |
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CCB (00939.HK) logged weaker-than-expected 1Q25 results, with net profit down 4% YoY to RMB83 billion and revenue down 4.8% YoY to RMB186 billion, DBS’s research report noted. The broker trimmed its profit forecasts of the company for 2025 and 2026 by 4-5%, projecting a CAGR of 1.3% for profits from 2024 to 2027, with NIM pressure continuing to impact earnings this year. DBS reduced its target price for CCB from HKD8.8 to HKD7.9, expecting a dividend yield of approximately 6% for 2025 and 2026, and reiterated a Buy rating. AAStocks Financial News |
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