Daiwa: Initiates Industrial and Commercial Bank of China (01398.HK) at "Hold" with a target price of HK$7.8

Zhito Finance APP has learned that Daiwa issued a research report, initiating coverage on ICBC (01398.HK) with a "Hold" rating and a target price of HKD 7.8, noting that ICBC is a high-dividend stock, but its current price is already largely reasonable. The bank expects ICBC's total operating income to grow by 4% to 8% year-on-year from 2026 to 2028, and net profit to grow by approximately 3.1% to 6.6% year-on-year; the current price corresponds to a 2026 expected price-to-book ratio of 0.55 times.