Daiwa: Upgrades China Construction Bank (00939.HK) target price to HK$9.9, rating "Buy"

According to the latest report from Morgan Stanley received by the Wise Finance APP, the profit forecast for China Construction Bank (00939.HK) has been revised based on its performance in the third quarter of 2025. The net interest margin forecast for 2025 to 2027 has been lowered, while the fee income growth in the third quarter of 2025 exceeded expectations, leading to an adjustment in related forecasts. Therefore, the after-tax net profit forecast for 2025 has been slightly increased by 0.1%, while the forecasts for 2026 and 2027 have been lowered by 0.3% and 0.8% respectively. The target price has been raised from HK$9.5 to HK$9.9 with a "hold" rating.