[ET Net News Agency, 29 October 2019] Daiwa Research lowered its target price for Bank
of Communications (BankComm)(03328) to HK$6.1 from HK$6.6 and maintained its "outperform"
rating.
The research house said BankComm management during its 3Q analyst briefing guided for a
stable NIM in 4Q versus 9-month and expected to further optimise the liability structure
to deal with the loan yield decline led by the new loan prime rate (LPR).
Daiwa trimmed its 2019-21 EPS forecasts by 0.4-3% mainly on lower NIM forecasts. (KL)