Daiwa: Raises Standard Chartered Group's target price to HK$113.1, rates as "Buy"

According to the Wise Finance APP, Daiwa Securities released a research report stating that after Standard Chartered Group (02888.HK) announced its first quarter performance, its profit forecasts for 2025 to 2027 were lowered by 2%, 5%, and 6% respectively. The forecast for net interest income during the same period was maintained, but the forecast for non-interest income was lowered due to slower than expected growth in some businesses in the first quarter. The forecast for costs and expected credit losses was also reduced, mainly due to exchange rate effects. In addition, the target price was raised from HK$112 to HK$113.1, with a rating of "hold".