Goldman Sachs: Raises BOC Hong Kong (02388.HK) target price to HK$59.7, expects Q3 net profit up 28% year-on-year

According to Zhitong Finance APP, Goldman Sachs released a research report stating that it has raised the target price of BOC Hong Kong (02388.HK) from HK$57.8 to HK$59.7, maintained its "Buy" rating, and revised up its net profit forecasts for 2026 to 2028 by 1.5%, 4.5%, and 0.3%, respectively, mainly reflecting a more favorable interest rate outlook after revising its HIBOR forecasts, as well as an upward revision to its 2026 loan growth assumption based on system data. The bank expects BOC Hong Kong to announce its 2026 third-quarter results in late October, with a forecast net profit of RMB 11.5 billion, up 28% year-on-year and 1% quarter-on-quarter, and pre-provision operating profit up 18% year-on-year and down 1% quarter-on-quarter.