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<Research>DBS: CCB (00939.HK) 1Q NP in Line; TP Added to $6.4
CCB (00939.HK)'s 1Q24 net profit fell 2.2% YoY to RMB87 billion, in line with the market's expectation, DBS Group Research issued a research report saying. Management empha...
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<Research>DBS: CCB (00939.HK) 1Q NP in Line; TP Added to $6.4
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47
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76
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30
 
SHORT SELL
 
STOCK INFO

CCB (00939.HK)  -0.050 (-0.847%)    Short selling $284.07M; Ratio 7.820%   's 1Q24 net profit fell 2.2% YoY to RMB87 billion, in line with the market's expectation, DBS Group Research issued a research report saying. Management emphasized that CCB is more focused on the quality of growth rather than just pursuing the expansion of its balance sheet, under the current complicated environment.

DBS Group Research expected CCB's earnings to grow at a CAGR of about 2.7% from 2023 to 2026, while 2024 earnings may fall YoY. DBS Group Research reiterated rating at Buy on CCB, and added its target price for the stock's H-shares from $6.2 to $6.4.

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DBS Group Research also lowered its 2024/ 2025 earnings forecasts by 5-6% to reflect the lower net interest margin expectation under the accommodative monetary policy environment.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-17 16:25.)

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