Morgan Stanley: China Merchants Bank (03968) reports stable growth in revenue and profit in the first quarter, rated as "hold".
We have a "buy" rating on this stock with a target price of 63.4 Hong Kong dollars.
Morgan Stanley released a research report stating that China Merchants Bank (03968) achieved stable growth in revenue and profit in the first quarter of this year. During the period, operating income increased by 3.8% year-on-year, mainly due to a 5% increase in net interest income. However, fee income growth was moderate and bond investment performance was weak. We maintain a "hold" rating on the stock with a target price of HK$63.4.
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In the first quarter, Agricultural Bank of China (01288) recorded a net profit attributable to equity holders of 75.185 billion yuan, an increase of 4.52% year-on-year.
WANKA ONLINE (01762) repurchased 146.9 million shares at a cost of HK$234.57 million on April 29th.
Astrazeneca PLC Sponsored ADR (AZN.US) Triple therapy for asthma approved for market launch.
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