[ET Net News Agency, 17 July 2018] UBS Global Research lifted its target price for Hang
Seng Bank (HSB)(00011) to HK$203.6 from HK$168, and upgraded its rating to "neutral" from
"sell".
The research house said HSB has outperformed peers and the market year-to-date, and is
trading at one standard deviation above its historical mean on multiple valuation metrics.
While the bullish sentiment can be somewhat justified given HSB's highest gearing to the
rising HIBOR, at 15x 2019 PE with an implied COE of 8%, UBS considers the stock fairly
priced.
If deposit rates continue to resist rising, UBS believes HSB would likely have the most
margin upside potential among peers. It said that HSB has the highest gearing to rising
rates as it has the largest exposure to US$/HK$-linked balance sheet among peers, as well
as the highest CASA ratio, of 75%. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00011 HANG SENG BANK
Nominal 
102.700 +1.100 (+1.083%) Others
17/07/2018 17:55
[I-bank focus]UBS lifts Hang Seng Bank (00011) to HK$203.6
| Remark: | Real time quote last updated: 26/04/2024 15:50 |
| 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 |