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02388 BOC HONG KONG
RTNominal unchange23.400 0.000 (0.000%)
Research Report

31/03/2021 17:35

{I-bank focus}HSBC lifts BOCHK (02388) to HK$31.8; "buy"

[ET Net News Agency, 31 March 2021] HSBC Global Research lifted its target price for
BOC Hong Kong (BOCHK) (02388) to HK$31.8 from HK$31.1 and maintained its "buy" rating.
The research house sees BOCHK's 2020 results as a neutral event. HSBC said its previous
expectation was not high, and it now sees 2020 results as a removed overhang. New Chief
Executive Sun Yu illustrated BOCHK's strategy across the Greater Bay Area (GBA), digital
transformation, and ESG.
Post-results, HSBC cut 2021/22 EPS forecasts by 1%/0.2%. It sees attraction in BOCHK for
its strategic strength in Hong Kong-mainland China cross-border banking, benefit in a
higher rate environment, and strong capital positions. (KL)

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