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<Research>UOB Kay Hian Trims CM BANK (03968.HK) TP to $49, Keeps Hold Rating
Recommend 12 Positive 9 Negative 1 |
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CM BANK (03968.HK) expected to its 2025 net profit to grow by 1.2% YoY to RMB150.2 billion, beating the forecasts of both UOB Kay Hian and the market, UOB Kay Hian published a research report saying. This is mainly due to improvements in net interest income and a continued narrowing of the YoY decline in non-net interest income. CM BANK anticipated its 2025 revenue to be flat YoY, and ROE to drop by 105 bps to 13.4%. The broker kept rating at Hold for CM BANK, but trimmed its target price from $52 to $49, reflecting the latest earnings revisions and a lower long-term ROE forecast. Of which, UOB Kay Hian raised its 2025 earnings estimation for CM BANK by 1%, but cut its 2026/ 2027 forecasts by 2.9%/ 1.1%, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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