Goldman Sachs: HSBC Holdings (00005.HK) beats expectations in the first quarter, target price raised to 101 Hong Kong dollars.

Wisdom Financial APP learned that Goldman Sachs released a research report stating that HSBC Holdings (00005.HK) first quarter results exceeded expectations of the bank and market expectations. The management maintained the guidance of double-digit tangible return on equity from fiscal year 2025 to fiscal year 2027, while confirming the net interest income guidance for fiscal year 2025 at $42 billion, with a target cost growth of 3%. The bank raised its earnings per share forecasts for fiscal years 2025 to 2029 by 4%, 5%, 4%, 2%, and 1%, respectively, increasing the H-share target price from HK$98 to HK$101, and maintaining a "Buy" rating.