[ET Net News Agency, 20 October 2020] Morgan Stanley raised its target price for Bank
of Chongqing (BCQ)(01963) to HK$4.6 from HK$4.5 and maintained its "equal-weight" rating.
The research house believes the key concern on China banks has shifted from macro/NPL
risks to uncertainties from policy window guidance, which has reduced the chance of
excessive ROE at state-owned China banks when GDP growth and credit demand finally slows
in the future.
Morgan said BCQ is a concentrated play in urban areas of Chongqing and nearby cities, a
beneficiary of local industrialization and urbanization. Some short-term regional economy
overhang remains, which could weigh on BCQ's asset quality. Morgan remains cautious until
more evidence of a stabilized asset quality surfaces. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01963 BCQ
Nominal 
4.590 -0.010 (-0.217%) Research Report
20/10/2020 17:22
{I-bank focus}Morgan raises BCQ (01963) to HK$4.6
| Remark: | Real time quote last updated: 24/04/2024 15:01 |
| 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 |