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<Research> HSBC Research Raises TP of BOC Hong Kong (02388.HK) to HKD51, Maintains 'Buy' Rating
Recommend 9 Positive 9 Negative 7 |
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HSBC Global Research released a report stating that BOC Hong Kong (02388.HK) saw its EPS grow by 4.9% YoY to HKD3.79 last year, exceeding both HSBC's and market expectations by 2% and 3.7%, respectively. The full-year dividend per share increased by 6.8% YoY to HKD2.12, with the payout ratio rising to 56%. The management mentioned for the first time a three-year shareholder return plan for 2026 to 2028, potentially including increasing the payout ratio, share buybacks, or issuing special dividends, which could serve as a mid-term catalyst. Considering the improved NIM outlook and the cooling of rate cut expectations, HSBC Research raised BOC Hong Kong's earnings forecasts for 2026 and 2027 by 6.9% and 0.5%, respectively. The TP was increased from HKD49 to HKD51, maintaining a 'Buy' rating. (ec/w) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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