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01398 ICBC
RTNominal up5.800 +0.130 (+2.293%)
Others

28/10/2019 17:02

{I-bank focus}HSBC raises ICBC (01398) to HK$7.3; "buy"

[ET Net News Agency, 28 October 2019] HSBC Globa Research raised its target price for
ICBC (01398) to HK$7.3 from HK$7.2 and maintained its "buy" rating.
The research house said ICBC's 9-month EPS up 5%, accounting for 82.5% HSBC's FY2019
estimate. Out of the seven key aspects it monitors, HSBC sees four positive, one negative
and two neutral/mixed trends.
HSBC sees the 9-month results as a moderate positive. Post results, it adjusted its
2019-21 EPS forecasts by +0.7% to -1.7% driven by modestly lower NIM, improved cost
efficiency and modestly lower credit costs; it reduced the credibility discount from 17%
to 12% to reflect the strengthened balance sheet while adopting the latest USD-RMB FX
forecast of 7.20 (previous 6.75) in deriving its targe price. (KL)

Remark: Real time quote last updated: 13/12/2019 17:59
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