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<Research>CICC: BOC HONG KONG (02388.HK) 1Q PBT Beats; Rating Kept at Outperform
Recommend 6 Positive 10 Negative 7 |
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BOC HONG KONG (02388.HK)'s 1Q26 operating income fell 0.4% YoY, in line with CICC's expectation, according to CICC's research report. Profit before tax (PBT) rose 0.8% YoY, better than the broker's forecast, mainly due to lower-than-expected impairment provisions. CICC maintained its full-year earnings forecasts, expecting slight growth in revenue and net profit. CICC maintained its earnings forecasts for BOC HONG KONG largely unchanged and its target price at $45.1, corresponding to PB ratio of 1.3x/ 1.2x for 2026/ 2027 and a 2.3% upside, with rating kept at Outperform. Auto-translated by AI AASTOCKS Financial News |
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