瑞银:下调汇控(0005.HK)目标价至56港元 评级“中性”
瑞银发表报告指,汇控(0005.HK)
第三季业绩大致符预期,收入仅逊市场预期1%,其中净利息收入低于市场预期2%,非利息收入则高于市场预期1%。拨备高于市场预期33%,抵销成本较市场预期低6%。
该行料汇控未来压力来自利率环境对收入的影响,尤其在低港元拆息之环境下,短期内投资相关营运开支亦较高。
该行指,投资者留意项目为业务重组进程,料短期股价因此而有下行风险。相反,如果英镑转弱及/或中美贸易争端解决,股价有机会上升。瑞银维持对汇控“
中性
”评级,目标价自61港元下调至56港元。
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