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<Research>HSBC Global Research Cuts CCB (00939.HK) TP to $8.4; Rating Kept Buy
Recommend 14 Positive 23 Negative 5 |
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HSBC Global Research issued a report covering CCB (00939.HK), of which 1Q25 results were moderately negative. EPS shrank more than expected, partly reflecting revenue pressures. Nevertheless, CCB saw strong deposit and loan growth, with improved asset quality indicators. CCB’s H-shares valuation remained undemanding at 4.92x PE 2025E, or 0.46x PB. Following the results, HSBC Global Research lowered its EPS forecasts for CCB for 2025-27 by 3.8%/ 6.2%/ 6.1%. The broker kept a Buy rating on CCB but reduced the target price from HKD8.9 to HKD8.4. AAStocks Financial News |
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