[ET Net News Agency, 1 February 2021] Credit Suisse lifted its target price for
Agricultural Bank of China (ABC) (01288) to HK$3.8 from HK$3.5 and maintained its
"outperform" rating.
The research house revised up ABC's 2020 profit growth from -1.0% to 0.8% to reflect
macro economic strength in 4Q. This compares with consensus deeply negative at -7.5%.
Credit Suisse said data released recently improves visibility and led the research house
to estimate stronger recovery in 4Q.
It said ABC's valuation is very attractive given (1) 2020 divided yield high at 7.7%;
(2) solid fundamentals; (3) growth recovery in 2021; and (4) recent sector laggard. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01288 ABC
Nominal 
3.510 -0.040 (-1.127%) Research Report
01/02/2021 10:40
{I-bank focus}Credit Suisse lifts ABC (01288) to HK$3.8
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| 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 |