Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CICC Raises BANK OF E ASIA (00023.HK) TP to $18.03, Keeps Neutral Rating
Recommend 5 Positive 1 Negative 3 |
||||
|
||||
|
BANK OF E ASIA (00023.HK)'s 2025 results were below expectations, CICC published a research report saying. Its operating income was $21 billion, up 0.2% YoY, while net profit amounted to $3.2 billion, down 20.1% YoY. The Company's results missed expectations primarily due to one-off factors affecting its Chinese joint ventures and the impairment of its owned property in Hong Kong. Excluding the above factors, the Company's profit before tax declined by 5.6% YoY. CICC believed that the Company's new strategic direction is clear, leading to a reduction in credit cost assumptions and an increase in non-interest income assumptions. The broker raised its 2026/ 2027 net profit forecasts by 42.5%/ 49% to $5 billion/ $5.7 billion, and lifted its 2026/ 2027 operating income forecasts by 6.3%/ 7% to $21.2 billion/ $21.9 billion, respectively. Therefore, CICC raised its target price by 28% to $18.03, with rating kept at Neutral. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
