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<Research>CICC Likes BANK OF CHINA (03988.HK) on Continued Benefits from Leading Advantage in Global Footprint, Keeps Outperform Rating
Recommend 12 Positive 16 Negative 5 |
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BANK OF CHINA (03988.HK) is the most globalized and integrated bank in China, CICC issued a research report saying. The broker believed that BANK OF CHINA's global business can continue to maintain a high market share, and its high-growth global operations may drive the Company to deliver better-than-peers results. CICC was optimistic that BANK OF CHINA will continue to benefit from its leading advantage in global footprint, coupled with resilient overseas interest rates. As a result, the broker raised its 2026/ 2027 net profit forecasts for the Company by 1.5%/ 2.6% to RMB250.8 billion/ RMB258.5 billion, respectively. The broker kept ratings at Outperform, and raised its target prices for BANK OF CHINA's A-/ H-shares by 11.7%/ 18.1% to RMB7.25/ $6.39, implying PB ratios of 0.8x/ 0.6x for both 2026 and 2027, and representing 25.1% upside from the current share price. Auto-translated by AI AASTOCKS Financial News |
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