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<Research>BOCI Chops ICBC's TP to $7.14, Keeps Rating as Buy
While ICBC (01398.HK)'s asset quality improved, its earnings were under pressure in 1Q25, BOCI wrote in its report.The bank's net profit declined by 4% YoY, compared to a Y...
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<Research>BOCI Chops ICBC's TP to $7.14, Keeps Rating as Buy
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While ICBC (01398.HK)  +0.050 (+0.926%)    Short selling $251.47M; Ratio 18.480%   's asset quality improved, its earnings were under pressure in 1Q25, BOCI wrote in its report.

The bank's net profit declined by 4% YoY, compared to a YoY growth of 0.5% in the entire year of 2024. Because of its narrowed net interest margin, its net interest income fell by 2.9% YoY in 1Q25.

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Considering ICBC's current valuation attractive, BOCI lowered its target price for the bank to $7.14, with a Buy rating remaining in place.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-07 16:25.)

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