[ET Net News Agency, 9 April 2021] Daiwa raised its target price for Bank of China
(03988) to HK$4 from HK$3.5 and upgraded its rating to "buy" from "outperform".
The research house said BOC used to suffer from an unfavourable asset mix, weak retail
business and soft NIM - all of which resulted in its relatively soft performance under a
mix of dampened macro-economic growth, capital-market boom, and RMB appreciation - which
was the scenario in 2020. But it believes that now is the time for BOC to see a steady
rebound in asset quality and NIM. (RC)