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01963 BCQ
RTNominal down5.000 -0.090 (-1.768%)

20/10/2020 17:22

{I-bank focus}Morgan raises BCQ (01963) to HK$4.6

[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)

Remark: Real time quote last updated: 26/01/2021 13:51
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