[ET Net News Agency, 28 October 2019] Goldman Sachs raised its target price for ICBC
(01398) by 1.4% to HK$7.96 and maintained its "buy" rating.
The research house said ICBC 3Q result shows stable, robust operating trends amid
regulatory challenges. An analyst briefing, Goldman found investor comments reflect the
rising interests in ICBC, as shown by its low valuation, given strong results in 3Q.
It views ICBC as a proxy for the China banking sector given its large size. As such,
Goldman thinks ICBC's robust 3Q results suggest that operating trends remain robust and
may be signaling a greater ability of China Banks to respond to ongoing regulatory
challenges.
Goldman revised up its 2020/2021 net profit forecasts by 1.5%/1.3% on 1.4%/1.3% of PPOP
growth reflecting its increasing market share of deposits assumptions against the backdrop
of the regulatory changes. (KL)
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01398 ICBC
Nominal 
4.110 +0.090 (+2.239%) Others
28/10/2019 16:07
{I-bank focus}Goldman Sachs raises ICBC (01398) to HK$7.96
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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