[ET Net News Agency, 1 February 2021] Credit Suisse lifted its target price for Bank of
China (BOC) (03988) to HK$3.5 from HK$3.3 and maintained its "outperform" rating.
The research house revised up BOC's 2020 profit growth from -1.5% to 0.0% to reflect
macroeconomic strength in 4Q. This compares with consensus deeply negative at -9.1%.
Credit Suisse said data released recently improves visibility and led it to estimate
stronger recovery in 4Q.
Compared with its earlier assumptions for BOC, Credit Suisse mainly considers higher
top-line and PPoP growth. Its fundamentals should remain stable in 2020 and growth to
recover in 2021. It added that BOC's 2020 dividend yield is high at 8.5%. (KL)
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03988 BANK OF CHINA
Nominal 
3.360 +0.010 (+0.299%) Research Report
01/02/2021 11:05
{I-bank focus}Credit Suisse lifts Bank of China to HK$3.5
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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