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<Research>Citi Lifts HANG SENG BANK (00011.HK) TP to $109, Raises Earnings Forecasts
Recommend 16 Positive 16 Negative 15 |
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Citi Research issued a research report raising its FY2024-FY2026 EPS forecasts for HANG SENG BANK (00011.HK) by 2-3%, mainly due to an increase in fee income and a decrease in tax expense as a result of the rebound in market sentiment. At the same time, Citi Research lowered its assumed cost of equity to 9.8% from the original estimation of 10.4%, due to reduced uncertainty in the macro environment. Based on the above changes in forecast, Citi Research lifted its target price from $96 to $109, with rating kept at Neutral. AAStocks Financial News |
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