CICC: Maintains Standard Chartered Group (02888) outperforming industry rating, raises target price to HKD 254.58.

Zhengtong Finance APP has learned that CICC released a research report stating that Standard Chartered Group (02888) has made significant business progress that exceeds market expectations. The revenue forecast for 2026 remains at $22.4 billion, while the forecast for 2027 has been raised by 2.9% to $24 billion. The net profit forecast for 2026 attributable to shareholders remains unchanged at $5.1 billion, while the forecast for 2027 has been raised by 3.9% to $5.7 billion. The company's trading is at 1.4x/1.3x P/B for 2026E/2027E. The bank has raised the company's target price by 6.7% to HK$254.58, corresponding to 1.5x/1.4x P/B for 2026E/2027E, with a 10% upside potential, and maintains an outperform rating relative to the industry.