[ET Net News Agency, 19 April 2021] Nomura raised its target price for ICBC (01398) to
HK$6.38 from HK$6.17 and maintained its "buy" rating.
The research house said it lowers FY21F credit cost by 12bp to 0.88% to reflect lower
provision pressure owing to improving asset quality. It also raises FY21F fee income
growth by 2pp, to 6.4%, to reflect the likely fee income recovery in 2021F. (RC)