[ET Net News Agency, 30 October 2018] Goldman Sachs lowered its target price for Hang
Seng Bank (HSB)(00011) to HK$243 from HK$251, and maintained its "buy" rating.
The research house changed HSB 2018-20 EPS forecasts by 0%/-4%/-3% largely to factor in
higher provisions post witnessing higher provisions in reported HSBC (00005) HK and BOCHK
(02388) 3Q earnings.
Goldman maintained its PPOP estimates largely unchanged. It noted that key downside
risks include credit deterioration on a slower macro or faster rate rise; Lower than
expected loan betas or higher deposit betas. (KL)