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<Research>M Stanley Raises CCB's TP to HKD9.9; Rating Kept Overweight
Recommend 23 Positive 28 Negative 9 |
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Morgan Stanley has published a report adjusting its earnings forecasts for CCB (00939.HK) based on its 3Q25 results. The broker has lowered its 2025-27 NIM forecasts for CCB to reflect the slower recovery pace of state-owned banks' NIMs. Due to the higher-than-expected growth in fee income for 3Q25, it has also lifted the relevant forecasts. Accordingly, Morgan Stanley's 2025 post-tax net profit forecast for CCB has been tweaked up by 0.1%, while the forecasts for 2026-27 have been lowered by 0.3% and 0.8%. Morgan Stanley elevated its target price for CCB from HKD9.5 to HKD9.9, with a rating of Overweight. AAStocks Financial News |
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