HK Stock Market Move | STANCHART (02888) rose nearly 3%, Goldman Sachs has extended the company's valuation to the 2025 fiscal year, and increased earnings per share for the coming years.

STANCHART (02888) rose nearly 3%, as of the press release, up 2.58% to HK$107.2, with a turnover of HK$98.2473 million. Goldman Sachs released a research report stating that the earnings per share of STANCHART for the financial years 2024-2028 have been raised by 1%. The bank has extended its valuation to the financial year 2025, with the target price raised by 9% to HK$104, maintaining a "neutral" rating. The group will announce its fourth quarter results for the year 2024 on February 21. It is widely expected that net interest income (NII) will slightly decrease in the financial year 2025, while the non-interest income stream is expected to achieve revenue growth. The report states that Standard Chartered's management expects revenue growth in the financial year 2025 to be below the mid-term range of 5-7%, but the market generally expects revenue growth of around 3%, with non-interest income expected to grow by 8%. Wealth solutions and global markets have always been the main drivers of non-interest income, and strong growth is expected in the fourth quarter. The bank notes that the performance of foreign exchange futures listed on the new exchange has been strong this quarter, reflecting the widespread expectation of upside risks in global market revenue in the fourth quarter. This is the main reason why the bank's fourth quarter revenue and profit expectations are higher than the market's general expectations.