Goldman Sachs: maintains "neutral" rating on STANCHART (02888), raises target price to 107 Hong Kong dollars.

Goldman Sachs issued a research report stating that it maintains a "neutral" rating on STANCHART (02888), with a target price raised from 104 Hong Kong dollars to 107 Hong Kong dollars. Profit forecasts for the next two years have been increased by 2% and 1% respectively. STANCHART's underlying performance in the fourth quarter of last year exceeded expectations, and it announced a $1.5 billion share buyback plan, which is $400 million more than expected. The final dividend per share is 28 cents, which is 18% higher than expected. Goldman Sachs pointed out that the company's good deposit management has led to encouraging performance in underlying net interest income. The performance of the global banking, international markets, and wealth management solutions businesses has been positive, and it is expected that these businesses will have a good start this year.