[ET Net News Agency, 23 February 2021] Goldman Sachs said HSBC Holdings' (00005)
reported 4Q underlying PBT of US$2.2bn was 16% above the research house's estimate. The
beat was largely driven by lower-than-expected credit charges but supported by
better-than-expected revenue.
Furthermore, the capital position was better than expected and the group announced
US$0.15 DPS, higher than Goldman's expectation.
Separately, the group refreshed its strategy and delivered positive growth messages on
revenues, alongside anchored cost aims and an overall 10%+ ROTE (return on tangible
equity) by 2023-24.
Goldman expects the share price reaction today to this release could be modestly
positive. It maintained its "buy" rating and a target price of HK$59. (KL)
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00005 HSBC HOLDINGS
Nominal 
70.050 -0.050 (-0.071%) Research Report
23/02/2021 14:03
{I-bank focus}HSBC's (00005) earnings & DPS beat - Goldman
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