[ET Net News Agency, 3 January 2020] Nomura lifted its target price for China
Construction Bank (CCB)(00939) to HK$8.77 from HK$7.87 and maintained its "buy" rating.
The research house expects CCB to deliver largely stable results for FY2020 versus
FY2019, with net profit up 5%. Nomura thinks its loan and total asset growth will be
similar to FY2019 on the expectation of moderate easing measures.
Hence, Nomura forecast loan and total asset growth of 7% and 7%, respectively, for
FY2020. Meanwhile, it expects pressure on NIM to continue in FY2020 after the further
adoption of the LPR mechanism on the outstanding loan balance from March 2020 onwards, but
the impact should be largely manageable. So, it expects the company to deliver NIM at 2.2%
for FY2020, versus 2.26% for FY2019. (KL)
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00939 CCB
Nominal 
4.870 +0.090 (+1.883%) Research Report
03/01/2020 10:23
{I-bank focus}Nomura lifts CCB (00939) to HK$8.77; "buy"
| Remark: | Real time quote last updated: 18/04/2024 13:04 |
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