Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
RTNominal up121.700 +6.400 (+5.551%)

04/08/2020 14:59

{I-bank focus}JPM lowers Hang Seng Bank (00011) to HK$109

[ET Net News Agency, 4 August 2020] J.P. Morgan lowered its target price for Hang Seng
Bank (HSB)(00011) to HK$109 from HK$120 and maintained its "underweight" rating.
The research house said HSB's 1H results came in below consensus estimates, dragged down
by weaker-than-expected PPOP (pre-provision operating profit) and higher credit costs. JPM
revised down its earnings forecasts by 13/4% for FY2020/21.
It expects relative share price underperformance to continue, given the downside risks
it sees to consensus earnings and DPS. JPM said uncertainties on PPOP momentum and asset
quality could remain high in the near future and potential impacts of the third wave of
COVID-19 infection remain to be seen, suggesting that it will take time for earnings
revisions to turn positive.
Despite the sufficient capital position, JPM believes it is difficult for HSB to deliver
higher payout ratios in FY2020 than in FY2019 due to regulatory guidance, and implied
dividend yields are less than 5% at the current share price level. (KL)

Remark: Real time quote last updated: 23/10/2020 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2020 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.