[ET Net News Agency, 3 September 2019] Goldman Sachs raised its target price for BOC
Hong Kong (BOCHK)(02388) to HK$35.9 from HK$34.7 and maintained its "neutral" rating.
The research house said BOCHK's results missed consensus expectations. That said, post
the 9% year-to-date correction and given current low valuations (0.95x 2020 P/B versus
11.6% 2019-20 average ROE), the share price might be already capturing that risk.
Given a likely peak HIBOR level currently as Fed continues to cut rates, Goldman expects
NIM (Net interest margin) to witness modest pressure during 2H. Management expects a flat
NIM HoH and could focus for the remainder of the year on controlling risks especially
liquidity and market risks in HK.
Goldman made modest 2019/20/21 EPS changes by +5%/+1%/nil to incorporate 1H financials.
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02388 BOC HONG KONG
Nominal 
23.900 +0.500 (+2.137%) Others
03/09/2019 16:38
{I-bank focus}Goldman lifts BOC Hong Kong (02388) to HK$35.9
| Remark: | Real time quote last updated: 25/04/2024 12:12 |
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