[ET Net News Agency, 22 October 2020] HSBC Global Research lowered its target price for
China Minsheng Banking (MSB)(01988) to HK$5 from HK$5.5 but upgraded its rating to "buy"
from "hold".
The research house said MSB's shares now trade at an undemanding PB of 0.33x 2020. At
this juncture, HSBC sees an incrementally more favorable risk-reward, including (1) NIM
(net interest margin) may benefit from rising rates; (2) fee income potential from being
agile; and (3) new leadership may focus on quality & credibility.
After factoring in the more conservative NIM, credit costs and payout assumptions, and
lowering its EPS forecasts by 20.8%/15.9%/6.7% for 2020-22, HSBC sees limited further
downside. (KL)
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01988 MINSHENG BANK
Nominal 
2.790 -0.010 (-0.357%) Others
22/10/2020 15:38
{I-bank focus}HSBC cuts Minsheng Bank (01988) to HK$5
| Remark: | Real time quote last updated: 19/04/2024 09:54 |
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