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<Research> BofAS Raises ABC (01288.HK) TP to HKD6.06; 1Q26 Core Profit Shows Strong Growth
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BofAS published a research report stating that ABC (01288.HK) recorded net profit before perpetual bond deduction of RMB75.2 billion in 1Q26, up 4.5% YoY, accounting for 25.3% of the banks full-year forecast. Core profit increased strongly by 13.2% YoY, representing 32% of the full-year forecast, mainly driven by a 6 bps QoQ expansion in NIM to 1.26%. During the period, net interest income rose 6.3% QoQ, while loans grew 5% QoQ. Corporate loans and retail loans increased 8% and 4.4% QoQ, respectively. BofAS raised its earnings forecasts for ABC for 2026 to 2028 by 2% to 3%. It lifted the H-share TP from HKD5.8 to HKD6.06 and increased the A-share TP for AGRICULTURAL BANK (601288.SH) from RMB6.4 to RMB6.67. The broker assigned a Neutral rating to the H-shares and an Underperform rating to the A-shares. (ec/j) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. 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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